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Repair Windows errors before they cause bigger problemsFix Now →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Clear out junk files and repair common Windows errorsFree Scan →Tencent agreed to acquire a majority stake in Riot Games in February 2011, and the deal closed on February 18. Tencent’s later annual-report disclosures say its ownership rose from 22.34% to 92.78% and report $231.465 million in cash consideration for the additional shares. That cash figure is not a confirmed all-in purchase price: Tencent also disclosed other consideration connected to put options, while Riot’s announcement at the time said the financial terms were not released.
What Tencent paid—and what the $400 million headline leaves unclear
Riot Games’ February 4, 2011 announcement said Tencent had agreed to acquire a majority stake but did not disclose financial terms. Tencent’s 2011 annual report later reported $231.465 million in cash consideration for the additional equity interest. It also described other cash and non-cash consideration related to put options. The filing therefore does not establish $231.465 million as the entire transaction cost, but the reviewed company disclosures do not reconcile those additional components to a nearly $400 million total.
Tencent’s 2010 annual report, published in 2011, described the cash consideration as $231.5 million. That is the rounded version of the same reported cash component, not a separate transaction or a verified all-in price. Tencent’s annual reports provide the later financial disclosures; Riot’s announcement records what the companies said publicly at the time.
How the deal unfolded
| Date | Event | What the source establishes |
|---|---|---|
| February 4, 2011 | Riot announced the agreement. | Tencent would acquire a majority stake; closing was expected within 30 days and depended on regulatory approvals. Riot said financial terms were not released. Riot announcement |
| February 11, 2011 | The FTC granted early termination. | The FTC notice lists Tencent as the acquiring party and Riot Games as the acquired party. FTC notice |
| February 18, 2011 | The acquisition closed. | Tencent’s 2011 annual report identifies this as the closing date and reports its post-close ownership and cash consideration. Tencent annual reports |
What changed in Tencent’s ownership
Tencent already owned 22.34% of Riot before the acquisition. After closing, it held 92.78%, and Tencent treated Riot as a subsidiary. These percentages describe Tencent’s stake, not the portion of Riot that Tencent acquired in this transaction: the reported increase was 70.44 percentage points.
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The 22.34% pre-deal and 92.78% post-deal figures appear in Tencent’s 2010 and 2011 annual-report disclosures. The 2010 report’s subsequent-event note gives the cash consideration as $231.5 million; the 2011 report identifies the February 18 closing and gives the more precise $231.465 million figure. Tencent’s financial reports
Riot’s reported operating arrangement
Tencent’s 2011 annual report said Riot continued to operate independently under its founders and local management team. Riot’s announcement likewise said its existing management would continue leading the company and described Los Angeles as its headquarters. Those statements describe the arrangement reported at the time; they do not establish that Riot had complete autonomy over every decision.
Riot CEO Brandon Beck said the investment would give the company’s designers, developers and community staff additional resources to work on League of Legends and new projects. That was Riot’s stated rationale when the deal was announced, not independent evidence of the investment’s effects. Riot’s announcement
What happened to the remaining equity
In December 2015, Tencent confirmed that it had purchased Riot’s remaining equity, according to TechCrunch’s report at the time. The report said Tencent had owned around 93% before that purchase and did not disclose the later transaction’s value. The available dated reporting here does not establish ownership developments after 2015, so it should not be used on its own to describe Tencent’s current stake.
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Repair common Windows errors and clear accumulated junk for a smoother, more stable PC - no reinstall needed.Free scan · no reinstallRiot’s scale at the time of the announcement
Riot’s February 2011 announcement said League of Legends had more than one million active players and generated more than half a billion minutes of playtime each month. Those are company-reported figures from 2011, not current audience statistics. Riot announcement
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