Ubisoft has introduced that Chinese tech big Tencent has invested €300 million (about $297.2 million) within the firm. In a press launch from Ubisoft CEO and co-founder Yves Guillemot, this 50 % stake “additional reinforces Ubisoft’s core shareholding round its founders and supplies the corporate with the steadiness important for its long-term growth.”

At the beginning of August, a report surfaced that Tencent was aiming to develop into Ubisoft’s largest shareholder. It beforehand acquired a small % stake within the writer of Assassin’s Creed and Just Dance, however was seeking to up its stake, together with shopping for 15 % from the Guillemot brothers (Yves, Christian, Claude, Michel, and Gérard). 

“Tencent is a key shareholder accomplice for lots of the business’s leaders, who’ve created a few of the most excellent video video games,” continued Guillemot. “This transaction reinforces our capacity to create sturdy worth over the approaching years.”

“This settlement additionally aligns with our philosophy to speculate alongside inventive founders with full confidence that they’ll lead their firms to new heights,” wrote Tencent president Martin Lao. “Ubisoft has proven a formidable capacity to persistently create world-class leisure that embrace a few of the most profitable franchises within the business.” 

Tencent is offering Ubisoft with a “long-term unsecured mortgage” to refinance its debt. Additionally, it’s going to be releasing a number of Ubisoft PC video games in China, together with overlaying the event prices of its cellular titles. 

However, Ubisoft will not be altering its possession as a part of the transaction. Earlier this 12 months, Guillemot admitted that being acquired wasn’t out of the realm of risk, as long as Ubisoft remained impartial.

Elsewhere, Ubisoft administration remains to be stated to haven’t met the calls for of pro-worker group A Better Ubisoft. The group was fashioned following a number of studies of the writer’s alleged tradition of harassment and misconduct. 

Tencent has been steadily making strikes to have an even bigger presence within the western video games house, notably triple-A sport growth. Last week, it and Sony elevated their stakes in Elden Ring developer From Software.