Ubisoft spins out new unit for Assassin’s Creed and other games, Tencent to take $1.25 billion stake

On Jan. 9, Ubisoft said it was postponing the launch of "Assassin's Creed Shadows" and had appointed advisors to review strategic options. Ubisoft on Thursday announced that it's creating a new gaming subsidiary with Chinese technology giant Tencent investing 1.16 billion euros ($1.25 billion) into the unit. The subsidiary will focus on Ubisoft's best-known games brands, including Assassin's Creed, Far Cry and Tom Clancy's Rainbow Six, according to the company. It will "focus on building game ecosystems designed to become truly evergreen and multi-platform," Ubisoft said in a press release Thursday. "Backed by greater investment and boosted creative capacities, it will drive further increases in quality of narrative solo experiences, expand multiplayer offerings with increased frequency of content release, introduce free-to-play touchpoints, and integrate more social features," the company added. The investment from Tencent values the new subsidiary at 4 billion euros, Ubisoft sai ... Read full article.