US-based video game developer Riot Games has been fully acquired by internet company Tencent, which already held a majority stake in the company, for an undisclosed amount.
Founded in 2006, Riot Games has published several video games but is best known for League of Legends, a multiplayer online strategy game that Fortune reports is played by some 85 million users each month, 40 million of which are located in China.
Tencent previously acquired a 93% stake in Riot Games in 2011, paying $400m. Venture capital firms Benchmark Capital and Firstmark Capital invested $7m in the company in 2008 and another $8m the following year.