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1Scan for outdated or missing drivers - takes under a minute2Repair Windows errors before they cause bigger problems3Fix the driver behind crashes, sound loss and screen glitchesTencent agreed to acquire a majority stake in Riot Games in February 2011, and the deal closed on February 18. Tencent’s annual report says it paid $231.465 million in cash for the additional shares, while also describing other cash and non-cash consideration tied to put options. That filing does not establish nearly $400 million as the complete purchase price.
When did Tencent acquire a majority stake in Riot Games?
Riot Games announced the agreement on February 4, 2011. The company said the deal was expected to close within 30 days and remained subject to regulatory approvals; it did not disclose financial terms. The U.S. Federal Trade Commission’s early-termination notice lists Tencent as the acquiring party and Riot as the acquired party, with early termination granted on February 11. Tencent’s 2011 annual report identifies February 18 as the closing date.
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How much did Tencent pay for Riot Games?
Riot’s February 4 announcement said the financial terms were not released. Tencent’s subsequent financial filings provide a more specific figure: its 2011 annual report reports $231.465 million in cash consideration for the additional equity interest. The 2010 annual report, published in 2011, gives a rounded figure of $231.5 million for that cash consideration.
Tencent’s 2011 filing also refers to other cash and non-cash consideration connected with put options. The $231.465 million figure is therefore the reported cash consideration for the additional shares, not a complete all-in transaction price. The primary sources cited here do not reconcile those additional components to nearly $400 million.
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- UNLOCK A UNIVERSE OF EXPERIENCES and compete with a global community of millions across multiple battlefields with Riot Games
- Unlocks in-game currency that can be used to purchase in-game items
- Redeemable in League of Legends, Valorant, Wild Rift, Teamfight Tactics, Legends of Runeterra, and 2XKO
- PC, mobile, console… it all works. Just enter your code at shop.riotgames.com/redeem and choose the game you want to use this virtual currency for
- This code is only redeemable on Riot Accounts in North America and Canada
What share of Riot did Tencent own?
Tencent already held 22.34% of Riot before the acquisition. After closing, its stake rose to 92.78%, and Tencent treated Riot as a subsidiary. The transaction therefore gave Tencent a majority stake, but it was not a purchase of the entire company at that point.
Did Riot continue to operate independently?
At the time of the deal, Riot and Tencent described an arrangement in which Riot’s existing leadership would remain in place. Riot’s announcement said its management would continue to lead all aspects of the company and identified Los Angeles as its headquarters. Tencent’s 2011 annual report said Riot continued to operate independently under its founders and local management team. These statements describe the arrangement reported at the time; they do not establish a guarantee of complete autonomy.
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- UNLOCK A UNIVERSE OF EXPERIENCES and compete with a global community of millions across multiple battlefields with Riot Games
- Unlocks in-game currency that can be used to purchase in-game items
- Redeemable in League of Legends, Valorant, Wild Rift, Teamfight Tactics, Legends of Runeterra, and 2XKO
- PC, mobile, console… it all works. Just enter your code at shop.riotgames.com/redeem and choose the game you want to use this virtual currency for
- This code is only redeemable on Riot Accounts in North America and Canada
Riot CEO Brandon Beck described the company’s stated rationale in the announcement: “Tencent’s investment will provide our talented team of designers, developers and community staff with additional resources to focus on innovating around ‘League of Legends’ and launching new projects that push the boundaries in the gaming space.” This was Riot’s explanation for the investment, not independent evidence of its effects.
What happened to the remaining Riot shares?
In December 2015, TechCrunch reported that Tencent had confirmed purchasing Riot’s remaining equity. The report said Tencent had owned around 93% before that later purchase, consistent with the 92.78% reported after the 2011 deal; it did not disclose the value of the 2015 transaction. The sources cited here do not establish ownership developments after that report.
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- UNLOCK A UNIVERSE OF EXPERIENCES and compete with a global community of millions across multiple battlefields with Riot Games
- Unlocks in-game currency that can be used to purchase in-game items
- Redeemable in League of Legends, Valorant, Wild Rift, Teamfight Tactics, Legends of Runeterra, and 2XKO
- PC, mobile, console… it all works. Just enter your code at shop.riotgames.com/redeem and choose the game you want to use this virtual currency for
- This code is only redeemable on Riot Accounts in North America and Canada
How to read the “nearly $400M” figure
The figures refer to different kinds of evidence and transaction components: Riot’s announcement disclosed no terms, while Tencent’s annual reports later reported the cash paid for additional shares and mentioned separate consideration related to put options. The available primary filings support the reported $231.465 million cash component, but not a verified transaction-wide total of nearly $400 million.
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- UNLOCK A UNIVERSE OF EXPERIENCES and compete with a global community of millions across multiple battlefields with Riot Games
- Unlocks in-game currency that can be used to purchase in-game items
- Redeemable in League of Legends, Valorant, Wild Rift, Teamfight Tactics, Legends of Runeterra, and 2XKO
- PC, mobile, console… it all works. Just enter your code at shop.riotgames.com/redeem and choose the game you want to use this virtual currency for
- This code is only redeemable on Riot Accounts in North America and Canada
- Agreement announced: February 4, 2011, according to Riot.
- Deal closed: February 18, 2011, according to Tencent.
- Cash consideration for the additional equity: $231.465 million in Tencent’s 2011 annual report; the filing also mentions other cash and non-cash consideration related to put options.
- Ownership: 22.34% before the acquisition and 92.78% after closing, according to Tencent’s annual reports.
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