On 4 Feb, Tencent has acquired a majority stake in Riot Games, a private US based online game developer. The deal consideration will be close to US$350 million, the largest of its oversea investment so far.

Before this acquisition, Tencent was already an investor in Riot Games during previous round of funding. Other prior investors include Benchmark Capital and Firstmark Capital. The three of them invested US$8 milliion for minority stakes in Riot Games in 2009.

Founded in 2006, Riot Games is based in Los Angeles and its key product is called ‘League of Legends’ (LOL), an MMO battle-arena game. Tencent licenced LOL since 2008 and originally planned to launch LOL last year. In order to improve localisation, Tencent plans to launch LoL in China on open beta test this year.

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Sherman So

Author of Red Wired: China's Internet Revolution, the first book to completely survey the nature of China's internet. (http://redwiredrevolution.com/) She previously was the lead China technology reporter...