Ubisoft announced today that Tencent has completed its strategic investment in Vantage Studios, the former’s spin-off studio intended to focus on its three major franchises: Assassin’s Creed, Far Cry and Tom Clancy’s Rainbow Six. Tencent made a cash investment of €1.16 billion, or about $1.25 billion, into the studio, meaning it now holds a 26.32% interest.
The deal was first announced in March, when Vantage was simply referred to as Ubisoft’s new subsidiary. Vantage Studios launched as an operational team on October 1, based in France and run by co-CEOs Charlie Guillemot and Christophe Derennes. The conditions for the investment have been met, and the proceeds will deleverage the Group while “providing enhanced financial flexibility to support its strategic transformation.” Ubisoft previously delayed its quarterly earnings report in anticipation of this announcement.
Yves Guillemot said in a statement, “Today’s closing crystallizes the value of our world class IPs and marks a pivotal milestone in Ubisoft’s ongoing transformation. It also brings in €1.16 billion of proceeds that deleverages the Group, strengthens our balance sheet and will support selected investment opportunities across the rest of the company.”
Tencent president Martin Lau added, “Tencent is delighted to be building on our strong relationship with Ubisoft through this investment in the launch of Vantage Studios. With its capable team and world-class creative vision, we look forward to Vantage Studios accelerating the growth of Assassins Creed, Far Cry, and Rainbow Six as evergreen platforms providing entertainment and inspiration to generations of players.”