Riot Games now owned entirely by Tencent

Riot Games, the developer of League of Legends, has sold its remaining equity to Chinese online company Tencent Holdings. The news comes from an update to the studio's employment page, in which it announces new compensation plans for staffers as a result of the ownership.

"As a result of our continued growth and changing circumstances, we're shifting to a new structure to recognize and reward Rioters' contributions," the post states, "and that first involves a big change to our existing equity program.

"As part of this effort, our majority investor, Tencent, recently purchased the remaining equity of Riot Games."

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Who is Tencent?

Now, thanks to Tencent's purchase, members of the studio will be able to participate in a "cash-based incentive program" that rewards them based on the company's overall success.

This is one of many changes the company has announced of late, both internally and for its most popular title. Major changes are coming to League of Legends in 2016, the company detailed earlier this fall, with the traditional sports world serving as major inspiration for the multiplayer online battle arena title's upcoming update.

Along with Riot Games, Tencent is an investor in Activision Blizzard and holds a stake in Epic Games, as well. The company also distributes the hugely popular mobile game Candy Crush Saga to Chinese audiences.

[Thanks, Tim!]