Dean Takahashi at Venture Beat reports that League of Legends is, like the American economy, now arguably Chinese. Chinese internet company Tencent has acquired a majority stake in Riot Games, which owns and operates League of Legends. The investment is just north of $350 million.
The deal is another validation of the social game business, which is one of the hottest sectors for user growth and acquisitions. And it shows that big international players such as the Chinese internet giant are moving in on the fast-growing market for social games in the U.S.
I love how Takahashi calls League “the video game equivalent of a pick-up basketball game”. As a guy who’s never been involved in a pick-up basketball game, I now understand basketball a little more. Is there a death recap in basketball?
(Thanks Mr. Hecker!)