Chinese technology giant Tencent is taking a €1.2bn stake in a new spin-off from Ubisoft, as the struggling French games developer attempts to shore up its balance sheet.
The deal values a new subsidiary that will run Ubisoft’s top franchises — including Assassin’s Creed, Far Cry and Tom Clancy’s Rainbow Six — at about €4bn.
Shenzhen-based Tencent, one of the world’s largest video games companies by sales, will own about a quarter of the new unit, with Ubisoft controlling the remainder.
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