Ubisoft is reportedly considering a Tencent-backed future for Assassin’s Creed and more
The French gaming giant has struggled in recent years
Ubisoft is said to be looking for investors in a new gaming group that would house some of its biggest IPs.
According to a new report, Chinese giant Tencent is said to be one of the potential backers for the new venture, which would control franchises like Ubisoft staple Assassin’s Creed.
Bloomberg has claimed that the company has asked for bids to be made as soon as by the end of this month, citing sources familiar with the deal.
Ubisoft didn’t comment when approached but referred Bloomberg to its latest earnings. Last month, Bloomberg first reported on the potential new entity, which would see the French giant focus more on core IP, like Assassin’s Creed.
The Guillemot family currently owns 14% of Ubisoft’s shares, while Tencent owns 9.99%
Last October, Bloomberg reported that Tencent and the Guillemots had been speaking with advisers to explore ways to stabilize Ubisoft, following a year in which its market value more than halved.
Those discussions were said to have included the possibility of the pair teaming up to take Ubisoft private, although talks were said to be at an early stage at the time.
A Reuters report published in December claimed that Ubisoft shareholders were considering how to structure a possible buyout of the company, without reducing the Guillemot family’s control.
Tencent was claimed to be undecided over whether to participate in that buyout and increase its stake in the company, reportedly because it has asked for a greater say on future board decisions. According to Reuters, discussions between the two are ongoing, as Tencent also wants to prevent any potential hostile takeover of Ubisoft by other investors.
Ubisoft’s next tentpole release, Assassin’s Creed Shadows, will be released on March 20.
Assassin’s Creed Shadows is the first major Ubisoft game to release day one on Steam since 2019. Previously, the publisher prioritised its own digital store, as well as the Epic Games Store, at launch. Late last year, the company brought Assassin’s Creed Mirage to Steam, as well as Star Wars Outlaws, after other stores.
