California
broken clouds
14.7 ° C
18.1 °
12.8 °
91 %
2.1kmh
75 %
Wed
25 °
Thu
25 °
Fri
22 °
Sat
22 °
Sun
20 °
California
broken clouds
14.7 ° C
18.1 °
12.8 °
91 %
2.1kmh
75 %
Wed
25 °
Thu
25 °
Fri
22 °
Sat
22 °
Sun
20 °
Wednesday, September 20, 2023

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HomeChinaTencent to double...

Tencent to double stake in Ubisoft as tech giant eyes overseas markets · TechNode


Chinese gaming giant Tencent is set to double its stake in AAA game title developer and publisher Ubisoft to around 10% share. In order to do so, Tencent will acquire a 49.9% indirect stake from Ubisoft’s founding family, according to Ubisoft’s press release on Tuesday. The statement also revealed that the purchase was worth 200 million euros ($198 million). “We are excited to expand our engagement with the founders, the Guillemot family, as Ubisoft continues to develop immersive game experiences, and to bring some of Ubisoft’s most well-known AAA franchises to mobile,” said Martin Lau, president of Tencent. The purchase was first reported by Reuters earlier last month. The close partnership between the two firms aims to bring Ubisoft’s popular game IP to mobile platforms. Tencent has made several investments in overseas gaming firms this month, including FromSoftware, Inc., the developer of popular titles like Elden Ring. [Ubisoft, press release]

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