Tencent and Guillemot Family Consider Buyout of Ubisoft, Shares Jump 30%

Oct 4, 2024, 02:43 PM

Tencent and Ubisoft's founding Guillemot family are considering a buyout of the French video game developer, Ubisoft. The potential buyout comes after Ubisoft lost more than half its market value in 2024, with shares plummeting by 54%. The buyout plan includes taking the company private, a move that has already caused Ubisoft's shares to jump 10%, 28%, and 33.5%, and enter a trading halt. This development follows a series of high-profile video game flops, including 'Star Wars Outlaws' and 'Assassin's Creed Shadows,' which have contributed to the company's financial struggles. Tencent previously helped the Guillemot family fend off a hostile takeover attempt by Vivendi and has been a close partner since.