Official announcements from Ubisoft or Tencent, or financial news outlets like Bloomberg or Reuters

Ubisoft Shareholders Discuss Buyout with Tencent, Aim to Maintain Family Control

Dec 6, 2024, 03:06 PM

Ubisoft shareholders are reportedly in discussions to explore buyout options for the video game company, aiming to maintain control by the founding Guillemot family. The talks include potential deals with Tencent, a Chinese tech giant, to take Ubisoft private. This comes in the wake of Ubisoft's decision to shut down its free-to-play first-person shooter game, 'XDefiant,' and close its studios in San Francisco and Osaka, impacting approximately 143 employees in San Francisco. Amid these developments, Ubisoft's share price skyrocketed by 8.5% after the buyout talks were reported, reflecting investor interest in the company's future. Tencent reportedly wants a greater say over Ubisoft as discussions continue.