Tencent invests nearly $400 million in Ubisoft
Ubisoft employs 20,000 people worldwide, including 5,000 in Quebec.
Rumors have been going around for weeks that video game giant Tencent wants to become the majority shareholder of Ubisoft. A slightly different scenario played out on Tuesday: Chinese group Tencent increased its stake in the holding company of the Guillemot family, founders of Ubisoft, to 49.9%, according to a report by French video game publisher.
Tencent's investment in Guillemot Brothers Limited is €300 million (over $390 million), highlighting a look-through value of ;Ubisoft at €80 (about $104) per share, a statement said.
Tencent is now allowed to carry 4.5 % to 9.99% its direct stake in Ubisoft, and the Guillemot family group, now expanded, will be able to increase its stake in Ubisoft up to 29.9% of the capital or voting rights.
The expansion of the concert with Tencent strengthens the anchoring of Ubisoft's reference shareholding around its founders and offers it essential stability for its long-term development, commented Yves Guillemot, President – CEO of Ubisoft.
Ubisoft has several studios in Canada, including Montreal, Saguenay, Quebec, Sherbrooke and Toronto.