The Ubisoft saga has taken another turn, entering the spooky season with news that the company might be going private. According to a new report, Chinese tech giant Tencent is aiming to run the show.
A Bloomberg report has revealed that Tencent Holdings Ltd. is in talks with Guillemot Brothers Ltd., owners of Ubisoft, with negotiations focused on stabilizing the company.
Ubisoft has had a turbulent year following lukewarm releases of big titles like Star Wars Outlaws. The company was also the target of a shareholder coup attempt by AJ Investments, and its shares dipped 40% to a historic low.
Tencent is not new to Ubisoft. In 2022, the Chinese company bought 49.9% of the shares of the Guillemot Brothers Ltd. holding company. The last available financial report places the company's holdings at 9.2% of net voting rights, compared to 20.5% held by the Guillemot brothers.
The official reaction from the Chinese side is not known, as Tencent staff have a week off from October 1 to celebrate the National Day of the People's Republic of China.
The market in France has reacted positively, with a record gain of 33% on Friday, after the news broke. The Guillemot family has...
