Ubisoft has confirmed that its €1.16 billion (~RM55.3 billion) deal with Chinese conglomerate Tencent has officially concluded. The French video game studio confirmed that the latter’s investments has been completed, giving it a 26.32% share in their co-founded outfit, Vantage Studio.
“Today’s closing crystallises the value of our world-class IPs and marks a pivotal milestone in Ubisoft’s ongoing transformation,” he said. “It also brings in €1.16 billion of proceeds that deleverages the Group, strengthens our balance sheet and will support selected investment opportunities across the rest of the company.” Yves Guillemot, CEO of Ubisoft, said in a press statement.
“Vantage Studios, fully operational since October 1st under a dedicated leadership team, embodies the principles of autonomy, focus and player centricity, with clear accountability. It brings our Creative Houses model to life with the ambition to accelerate the growth of our flagship franchises on their path to becoming annual billion-euro brands.”
“Tencent is delighted to be building on our strong relationship with Ubisoft through this investment in the launch of Vantage Studios. With its capable team and world-class creative vision, we look forward to Vantage Studios accelerating the growth of Assassins Creed, Far Cry, and Rainbow Six as evergreen platforms providing entertainment and inspiration to generations of players,” Martin Lau, President of Tencent, said.
(Source: Gameindustry, Game Reactor, Game Developer)
