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Ubisoft Announces the Completion of Tencent’s Strategic Investment in Vantage Studios

1 November 20253 pages1,561 words

Summary

Ubisoft has finalized a strategic investment from Tencent into Ubisoft Nova SAS, a newly established subsidiary known as Vantage Studios. This entity is built around the company’s three most prominent intellectual properties: Assassin’s Creed, Far Cry, and Tom Clancy’s Rainbow Six. Tencent has provided a cash investment of €1.16 billion, valuing Vantage Studios at a pre-money enterprise value of €3.8 billion. Following the transaction, Tencent holds a 26.32% economic interest in the subsidiary, while Ubisoft retains exclusive control and consolidation rights. The primary objective of this partnership is to accelerate the growth of these flagship franchises into billion-euro brand ecosystems. Based in France and led by co-CEOs Charlie Guillemot and Christophe Derennes, Vantage Studios serves as a key pillar of a new operating model centered on Creative Houses. This model emphasizes autonomy, efficiency, and player-centricity. Financially, the proceeds are intended to deleverage the Group’s balance sheet on a consolidated non-IFRS net debt basis and provide the flexibility necessary to support a broader strategic transformation. The agreement includes specific governance and share transfer provisions, such as a five-year lock-up period for Tencent’s securities and customary minority protection veto rights. Furthermore, the deal establishes mechanisms for call and put options in the event of a change of control at Ubisoft. This transaction marks a significant milestone in crystallizing the value of Ubisoft’s world-class IP while positioning its most successful franchises for long-term, sustainable growth within the global gaming market.

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Ubisoft Announces the Completion of Tencent’s Strategic Investment in Vantage Studios

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