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International Business Times
International Business Times
Business

Games Publisher Ubisoft Announces Restructuring, Billion-euro Investment

Ubisoft Tencent Yves Guillemot
The subsidiary will bring together some of Ubisoft's most popular game universes, such as 'Assassin's Creed' (Credit: AFP)

In a bid to escape financial woes, French games giant Ubisoft said Thursday it was creating a new subsidiary around its most popular franchises such as "Assassin's Creed" in partnership with China's Tencent.

The new unit, valued at around four billion euros ($4.3 billion), will be 25-percent controlled by Tencent, which will stump up 1.16 billion euros of new investment in exchange.

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