The Chinese company more than doubles its stake in Ubisoft to almost 10% with a €300 million investment in Guillemot Bros, the company run by Ubisoft's co-founders.
About a month ago, it was reported that Tencent was looking to raise its stake in Ubisoft aiming to become Ubisoft's single largest shareholder. Now, new reports suggest that though the Chinese giant is indeed extremely interested in Ubisoft, it won't be acquiring the company. Instead, Tencent is increasing its number of shares in it.
As reported by Axios' Stephen Totilo, Tencent has invested €300 million in Guillemot Bros, the company run by Ubisoft’s co-founders that has the largest stake in Ubisoft. Tencent now owns a 49.9% stake in the firm, which does not give the Chinese company control.
According to Totilo, Tencent will not be represented on board of directors at either Guillemot Bros or Ubisoft but its stake in Ubisoft will increase to nearly 10%.
As a part of the deal, Tencent will bring "several" Ubisoft's biggest franchises to mobile along with bringing Ubisoft PC games to China.
"The expansion of the concert with Tencent further reinforces Ubisoft’s core shareholding around its founders and provides the company with the stability essential for its long-term development," Ubisoft CEO and co-founder Yves Guillemot said in a press release. "This transaction reinforces our ability to create strong value over the coming years."
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