Tencent increases its stake in Assassin’s Creed maker Ubisoft
- The Tencent deal underscores the appetite of Chinese gaming giants for foreign studios and comes after NetEase bought Quantic Dream
- China’s largest social network and gaming firm also has the right to raise its direct stake in Ubisoft to 9.99 per cent from 4.5 per cent currently

Chinese tech giant Tencent Holdings is increasing its minority stake in Ubisoft in a deal with the company’s founding family that values France’s biggest video game maker at more than €10 billion (US$9.88 billion) amid a wave of buyouts in the industry.
The deal underscores the appetite of deep-pocketed Chinese gaming giants for foreign studios and comes just a week after the acquisition by NetEase of unlisted French video games maker Quantic Dream.
It also caps a difficult four-year period at Ubisoft, home to the Assassin’s Creed and Tom Clancy’s video game franchises, marked by a succession of delays of new video games and allegations of sexual harassment that led to a revamp of its top management. Ubisoft’s share price has fallen by more than half over the period, from about €100 to less than €44 on Tuesday.
The transaction makes Tencent part of a shareholder pact with Ubisoft’s founders, the Guillemots, and gives it a total stake in the video game maker of more than 11 per cent through the acquisition of a stake in the family holding.
This includes the acquisition by Tencent of a 49.9 per cent stake with 5 per cent voting rights in Guillemot Brothers Limited, Ubisoft said in a statement.
Tencent’s investment in Guillemot Brothers Limited, which owns the bulk of the family’s 15 per cent stake in Ubisoft, amounts to €300 million, at an implied valuation of €80 per Ubisoft share. That values Ubisoft at more than €10 billion.
China’s largest social network and gaming firm also has the right to raise its direct stake in Ubisoft to 9.99 per cent from 4.5 per cent currently, said Ubisoft.