Tencent increases Ubisoft stake to nearly 10%
Guillemot Brothers Limited, the company of the founders of Ubisoft, announced today (06) that it has sold 49.9% of its shares to Tencent. As part of the agreement, the Chinese giant now has a 9.9% stake in the capital and voting rights in the owner of Assassin’s Creed and other game franchises.
According to Guillemot Brothers Limited executives, the deal will benefit Ubisoft because the strategic partnership serves to encompass the “mobile title development of several of Ubisoft’s top franchises and the launch of several Ubisoft titles for PC in China”.
Although predicted, the increase in the “power” of the Chinese company within the European developer has barriers. Tencent will not be able to sell Ubisoft shares for a period of 5 years and will not be able to increase its current 9.9% stake in the creator of Watch Dogs for a period of 8 years, for example.
Yves Guillemot, CEO and co-founder of Ubisoft, said the deal is essential for the gaming brand to have “stability in its long-term development.” He argued that the transaction validates the assets built by the developer over time.
“Tencent is a key shareholder partner for many of the industry leaders who have created some of the most remarkable games. This transaction reinforces our ability to create strong value in the coming years”, he stressed.
“We are excited to expand our involvement with the founders [da Ubisoft]the Guillemot family, as Ubisoft continues to develop immersive gaming experiences and bring some of its best-known AAA franchises to mobile.”