Ubisoft spins out subsidiary with a billion-dollar investment from Tencent

Ubisoft is continuing its efforts to course-correct after several challenging years . Today, the video game company announced that it will launch a subsidiary centered around three of its most familiar franchises: Assassin's Creed, Far Cry and Tom Clancy's Rainbow Six. The as-yet-unnamed subsidiary will fold in the teams working on those three series, including Ubisoft studios in Montréal, Quebec, Sherbrooke, Saguenay, Barcelona and Sofia. This new business will receive an investment of €1.16 billion (roughly $1.25 billion) from its longstanding partner Tencent, granting the conglomerate a minority ownership stake. Following the transaction, Ubisoft will narrow focus to its other franchises, such as The Division and Tom Clancy's Ghost Recon. "Today Ubisoft is opening a new chapter in its history," CEO and Co-Founder Yves Guillemot said. "As we accelerate the company’s transformation, this is a foundational step in changing Ubisoft’s operating model that will enable us to be both agil ... Read full article.