Well, Microsoft is blocked from making anymore acquisitons due to those laws, but Microsoft actually owns multiple studios. Tencent only owns Riot Games (afaik), everything else they have a foot in is just shares. I'm not an expert on these things so I don't know if the laws consider shares in their standards of a monopoly.

That Tencent rumor has been around since last year I think.
FYI Gamestop shares are more valuable than Ubisoft...
Maybe Embracer is an alternative...

https://youtu.be/5pYeoZaoWrA Maybe Gamestop is overvalued from Book. A dead retail store that only managed to present profits (sans revenue) by slashing employee benefits like tyres?

https://www.gamesindustry.biz/tencent-invests-125bn-in-new-ubisoft-subsidiary-focused-on-assassins-creed-far-cry-and-rainbow-six

"Tencent invests $1.25bn in new Ubisoft subsidiary focused on Assassin's Creed, Far Cry, and Rainbow Six

New subsidiary granted a "worldwide, exclusive, irrevocable, perpetual license"

Ubisoft has "accelerated its transformation" by developing a new operating model and subsidiary following a $1.25bn cash "injection" from Chinese megacorp Tencent.

In a bid to "rapidly" evolve its operating model, Ubisoft has created a subsidiary based upon its Assassin's Creed, Far Cry, and Tom Clancy's Rainbow Six brands, arguably the developer/publisher's tentpole franchises. Through a "formal and competitive process," Ubisoft selected Tencent to invest a minority stake of €1.16bn ($1.25bn) to focus on expanding those games' "truly evergreen and multiplatform ecosystems."

The new subsidiary has been granted a "worldwide, exclusive, irrevocable, perpetual license" in respect to the IPs listed above, and includes teams developing those franchises in Montréal, Quebec, Sherbrooke, Saguenay, Barcelona, and Sofia, although it will be headquartered in France and "100% owned" by Ubisoft.

Ubisoft said the $1.25bn investment will be used to "strengthen Ubisoft’s balance sheet by significantly reducing its consolidated net debt position, accelerate the Group’s transformation, and sustain growth of selected franchises."

"Today Ubisoft is opening a new chapter in its history," said co-founder and CEO, Yves Guillemot. "As we accelerate the company's transformation, this is a foundational step in changing Ubisoft's operating model that will enable us to be both agile and ambitious. We are focused on building strong game ecosystems designed to become evergreen, growing high-performing brands and creating new IPs powered by cutting-edge and emerging technologies.

"With the creation of a dedicated subsidiary that will spearhead development for three of our largest franchises and the onboarding of Tencent as a minority investor, we are crystalizing the value of our assets, strengthening our balance sheet, and creating the best conditions for these franchises' long-term growth and success. With its dedicated and autonomous leadership team, it will focus on transforming these three brands into unique ecosystems.

"We are committed to building a sharper, more focused organization-one wheretalented teams will take our brands to the next level, accelerate the growth of emerging franchises, and lead innovation in next-generation technologies and services, all with the goal of delivering enriching, memorable games that exceed players' expectations, and create superior value for our shareholders and other stakeholders," Guillemot concluded.

Tencent president Martin Lau added: "We are excited to extend our longstanding partnership with Ubisoft through this investment, which reflects our continued confidence in Ubisoft's creative vision and exceptional talent to drive sustained success in the industry. We see the immense potential for these franchises to evolve into long-term evergreen game platforms and create engaging new experiences for gamers."

Despite a significant 51.8% decline year-on-year in net bookings for Q3, Ubisoft's most recent financial report highlighted that this was in line with its revised expectation of €300 million for the period.

Ubisoft remained optimistic about its next quarter, and is expecting net bookings to increase following the release of Assassin's Creed Shadows, which released on March 20."

Was about to make a thread, but saw the bump.

Here is a source with some more details, specifically about the terms
https://www.globenewswire.com/news-release/2025/03/27/3050885/0/en/Ubisoft-announces-the-creation-of-a-new-subsidiary.html

Some highlights:
- Tencent would benefit from customary minority protection veto rights as well as certain consent rights on the disposals of the important new subsidiary assets

- A 5-year lock-up undertaking on New subsidiary shares held by Tencent, unless Ubisoft no longer owns a majority of New subsidiary voting rights and share capital

- Ubisoft may not cease to hold a majority of New subsidiary voting rights and share capital for a 2-year period
Customary share transfer provisions, including, a right of first refusal to the benefit of Ubisoft, a right of first offer to the benefit of Tencent, tag-along right to the benefit of Tencent, and drag-along right to the benefit of Ubisoft (subject to certain conditions)

- Call option to the benefit of Ubisoft and put option to the benefit of Tencent in the event of certain change of control of Ubisoft approved by its Board of Directors – [Exercise price will be the higher of (i) the fair market value of New subsidiary shares and (ii) the same EBIT multiple as that in the change of control transaction of Ubisoft; it being specified that for the call option there will be a specific minimum price protection during the first 4 years following closing of the transaction with Tencent.
--------------------

Either way, Tencent makes yet another dent in Ubisoft. They still hold 10% of the parent company and now 25% of their top 3 franchises. Whether Ubisoft uses the cash injection to restructure/reorganize in a way so that they stop bleeding money constantly remains to be seen. Horizon of 2-5 years.

They really should try, because next time, the Tencent takeover might be complete.
I smell a lot of layoffs incoming. Could also be a "molting" strategy. Move anything of value to the subsidiary and let the parent die off with all of its burdens.

EDIT:
A company wide e-mail also leaked:
https://insider-gaming.com/ubisoft-tencent-internal-memo/
Yep, I can definitely smell layoffs :D. Vague PR pep-talk with zero specifics.
--------------------------------------------

Understandably, employee’s are now nervous. In a follow-up email, Marie-Sophie de Waubert (Chief Studios & Portfolio Officer) said,

“Hello everyone,

I wanted to follow up immediately with all of you in Montreal, Quebec City, Sherbrooke, Saguenay, Barcelona, and Sofia after Yves’ email regarding the new Business Unit that is being created.

First and foremost, I want to emphasize that the agreement we announced is a powerful enabler and an exciting opportunity for Ubisoft. It will help us accelerate our evolution and improve how we make games with greater focus and agility.

Tencent’s investment is a strong testament to their trust in our ability to grow Assassin’s Creed, Far Cry, and Rainbow Six. This is a direct result of the incredible work you’ve done in making these franchises iconic, as a lead or major codev studio.

I also want to be clear: if you’re not currently working on these brands, it doesn’t mean your work matters any less. This agreement will benefit all of Ubisoft, giving us the means to spark more innovation and creativity across the board. This marks the beginning of a new chapter, and you play a vital role in shaping it.

In the coming weeks and months, we will work hard to build the best organization possible – for Ubisoft, for our teams, and for our players.

Of course, this brings some uncertainty and questions. Right now, we may not have all the detailed answers, but we are committed to communicating with you transparently and regularly. Supporting you through this transition is the top priority for your local and your global leadership teams. Don’t hesitate to reach out to them and stay tuned locally; usual or dedicated “studio times” will be also good forums to keep you updated and answer your questions.”

Luckily, Ubisoft were the first to drop W7 support, and did so quite aggressively in fact. This fortunate development enabled me to save 100% on Ubisoft franchise and the emphasis on GaaS is yet another fortunate decision that will ensure I'll keep saving 100% on UBI even if I switch to W10.

Given this list:
https://en.wikipedia.org/wiki/Tencent#Foreign_studio_assets

Tencent appears to be the Lovecraftian tentacles that are progressively infesting the gaming industry. Remember: you're routinely granting admin rights (=full control) to game installers or at least the unified Launchers. Your PC is theirs to control however they see fit.

I nearly fell off my chair when I heard that in the latest AC game, you can buy top tier gear right from the get-go, MAP MARKERS!!!!, and it even has a damn season pass. A single. Player. Game. That you pay 70 bucks up front for. Absurd doesn't even begin to describe it.... Ubisoft is one of the largest pushers of GaaS, no matter the cost.
https://www.youtube.com/watch?v=_4RitT80MCE

And yes, Tencent will gladly devour any entity that insists on its own self-destruction.

Ubisoft needs to get comfortable with not owning its games.

This is just elegant, my hat goes off to you!

Ubisoft's new "operating model" surely means going the 100% DRM-free route and always releasing first on GOG.

Ubisoft might be on to a new business model. Ac Shadows has been very successful, wonder why that is?
Controversy, same reason Hogwarts Legacy sold so well.
I think i heard something about 2.2M players on steam.
Everyone wants to see the train wreck.

It was leaked that MS was also in talks to buy IPs from Ubisoft, I doubt Ubisoft would risk damaging their MS partnership so I wonder what exactly MS wanted if not AC, R6S or Far Cry.

Unless Ubisoft corrects its inefficiencies, no amount of money will be enough to keep them afloat. Challenges like failed projects, game delays, and substantial debt. Don't count on me at least. Maybe it's just me not becoming comfortable with not owning my games

Well, they were claiming a new direction with R6S2 so that may be it. But there were also rumours of R6S going F2P, so there's that.