Tencent, a Chinese tech company, made a €1.2 billion ($ 1.25 billion ) investment in a spin-off from Assassin’s Creed video game developer Ubisoft.
Google, based in Shenzhen, may own about a quarter of the new company, while Ubisoft will control the remaining portion of the newly established conglomerate, which is worth about €4 billion.
The system will be responsible for some of the biggest companies from European firm, including Assassin’s Creed, Far Cry, and Rainbow Six, according to Tom Clancy.
Tencent, one of the biggest video game companies in the world, is also known for its internet-based providers, including the wildly popular messaging service Snapchat.
“Today Ubisoft is opening a new chapter in its history,” Yves Guillemot, Ubisoft’s co-founder and chief executive said in a statement.
With a play of just under 10 %, Tencent is then Ubisoft’s second-largest investor.
Through this funding, we are delighted to expand our long-standing association with Ubisoft, according to Martin Lau, President of Tencent.
Ubisoft announced that it will now concentrate on its other top-notch names, including Tom Clancy’s Ghost Recon and The Division.
Due to slower game releases and declining sales, Ubisoft’s stock market price has fallen significantly in recent years.
That’s despite the fact that its stock rose earlier this month as investors greeted the release of the most recent installment of the Assassin’s Creed company.
The eagerly awaited Assassin’s Creed Shadows had been delayed some days.
It came after Star Wars Outlaws, one of the company’s most notable names, performed poorly, and some bystanders expressed concern about how the company is being run.
Allegations of sexual misconduct by former Ubisoft executives have also hit the firm.