 |  |  | |  | | | China's Tencent buys Riot Games for nearly $400M Move signals international interest in the hot online game market Tencent, China’s most valuable internet company, has acquired a majority stake in U.S. online games firm Riot Games for nearly $400 million. The deal is another validation of the social game business, one of the hottest sectors in both user growth and dealmaking. 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. Riot Games' League of Legends has only a million active users, but they spend a lot of money within the game. | | | | TOP STORIES UPCOMING EVENTS VentureBeat Mobile Summit - April 25-26, Sausalito, CA Cleantech VC Pitch - February 9, Palo Alto, CA Mobile World Congress - February 14-17, Barcelona DEMO Spring 2011 - February 27-March 1, Palm Desert, CA BeMyApp WeekEnd - March 4-6, San Francisco, CA Structure Big Data 2011 - March 23, New York City Socialize East - March 31-Aril 1, New York City |  | VENTUREBEAT JOB BOARD | | | | COMPANIES IN THE NEWS | | | | PEOPLE IN THE NEWS | | | | | |  | Provided by  , the leading news source on technology innovation.
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