Tencent invests 1.16 billion euros in Ubisoft's new subsidiary, holding 25% of the shares. The transaction is expected to be completed before the end of the year

Odaily Planet Daily News Ubisoft will split its popular game IPs such as "Assassin's Creed", "Far Cry" and "Rainbow Six" into a new subsidiary valued at approximately 4 billion euros (about 4.3 billion US dollars). Tencent Holdings will spend 1.16 billion euros to acquire a 25% stake in the subsidiary. The new entity will hold the IP licensing rights for these games and operate by collecting royalties. The transaction is expected to be completed by the end of 2025. Ubisoft will use the proceeds from the sale to repay debts and support the development of other game series. (Bloomberg)