Ubisoft puts "Assassin's Creed" and "Far Cry" into new subsidiary
Ubisoft is outsourcing its well-known brands such as "Assassin's Creed" and "Far Cry" to a new subsidiary from – with additional support from Tencent.
Screenshot aus "Assassin's Creed Shadows"
(Image: Ubisoft)
French publisher Ubisoft is putting the "Assassin's Creed", "Far Cry" and "Rainbow Six" brands into a new business unit. The company announced this on Thursday evening. The Chinese tech group Tencent is investing 1.16 billion euros in the new business unit, which corresponds to a good 25 percent of the valuation of 4 billion euros.
The restructuring is intended to unlock creative capabilities and improve the quality of narrative single-player titles, writes Ubisoft. In addition, the new business unit will also expand Ubisoft's multiplayer offering, lead to faster releases and create "Free2Play touchpoints".
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"Today, Ubisoft is opening a new chapter in its history," said Ubisoft founder Yves Guillemot. He speaks of a fundamental step that will strengthen Ubisoft's business model and improve the further expansion of game ecosystems. "With the creation of a dedicated subsidiary that will drive the development of three of our largest franchises and the entry of Tencent as a minority investor, we are crystallizing the value of our assets, strengthening our balance sheet and creating the best conditions for the long-term growth and success of these franchises."
Tencent was considered the favorite
After several economically difficult years, Ubisoft spent months looking for a possible way out of the crisis. Even a complete takeover of the company was not ruled out. In an investor call in January, Guillemot spoke of several ways forward – but would not answer multiple skeptical questions about what these ways might look like.
It is no surprise that a deal with Tencent will ultimately materialize. The Chinese tech giant has always been the favorite for a possible takeover or for stronger investments. Tencent already owns 9.2 percent of Ubisoft shares and 49.9 percent of the holding company owned by the family of Ubisoft CEO Yves Guillemot.
The developer studios in Montréal, Québec, Sherbrooke, Saguenay, Barcelona and Sofia are to belong to the new Ubisoft subsidiary. The German studios in Mainz and Düsseldorf are not mentioned.
(dahe)
