Tencent and Guillemot Family Weigh Buyout of Ubisoft After 30% Surge, Trading Halt

Oct 4, 2024, 02:15 PM

Tencent and Ubisoft's founding Guillemot family are considering a buyout of the French video game developer, Ubisoft. The potential buyout comes after the company lost more than half of its market value this year. One option being discussed is to take Ubisoft private. Following the news, Ubisoft's shares surged 30% and entered a trading halt. The buyout discussions are reported by Bloomberg, with sources indicating that the move aims to stabilize the company after several underperforming game releases, including Assassin's Creed and Star Wars Outlaws. Ubisoft also owns cloud streaming rights for Activision Blizzard games.