Ubisoft Entertainment SA will carve out a unit including Assassin’s Creed, Far Cry and Tom Clancy’s Rainbow Sixinto a subsidiary with an enterprise value of about €4 billion ($4.3 billion).
Tencent Holdings Ltd. will invest €1.16 billion to acquire a 25% stake in the new entity, which will have licenses for the intellectual property of the games in exchange for a royalty, the French video game company said in a statement on Thursday.
Ubisoft, which was founded by France’s Guillemot family, has been working to bring new investors into its video game properties, Bloomberg News has reported. The valuation of the new unit surpasses Ubisoft’s current enterprise value.
Ubisoft’s US-listed depositary receipts jumped as much as 12.5% on the news.
Ugh. I suppose I can only feel grateful that Tencent’s stake is only in this subsidiary? I’ve already done as much as I can to divorce from Epic Games from Tencent’s 40% stake in them.
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Exactly what I said would happen. Disgusting.
And I am not sure which is more disgusting, the news, or the paywall and ad diarrhea on Bloomberg.
Fuck Ubisoft and Tencent
Ugh. I suppose I can only feel grateful that Tencent’s stake is only in this subsidiary? I’ve already done as much as I can to divorce from Epic Games from Tencent’s 40% stake in them.
Here’s a archive, https://archive.ph/jIZF2