(Reuters) – French videogame maker Ubisoft said on Thursday it has set up a subsidiary in which China’s Tencent will invest 1.16 billion euros ($1.25 billion).
The new subsidiary, valued at about 4 billion euros, will bring together the Assassin’s Creed, Far Cry and Tom Clancy’s Rainbow Six brands, the group said in a statement.
The move is expected to be completed before the end of 2025, it added.
Ubisoft’s shares rose in mid-March after Bloomberg News reported the videogame maker was seeking investors for a new entity, with Tencent among the invited bidders.
($1 = 0.9254 euros)
(Reporting by Alban Kacher; Editing by Susan Fenton)
