Tencent to invest €1.16bn in a new gaming subsidiary of Ubisoft Entertainment.

Tencent, a technology and entertainment company, agreed to invest €1.16bn in a new gaming subsidiary of Ubisoft Entertainment, a global game development and publishing company. “With the creation of a dedicated subsidiary that will spearhead development for three of our largest franchises and the onboarding of Tencent as a minority investor, we are crystalizing the value of our assets, strengthening our balance sheet, and creating the best conditions for these franchises’ long-term growth and success. With its dedicated and autonomous leadership team, it will focus on transforming these three brands into unique ecosystems,” Yves Guillemot, Ubisoft Co-Founder and Chief Executive Officer.