In the latest round of video game firm acquisition news, Ubisoft has announced that Tencent has acquired "a 49.9% economic stake with 5% voting rights in Guillemot Brothers Limited", Ubisoft's largest shareholder and a company formed by Ubisoft's CEO and founder Yves Guillemot and his family.
In a press release, Ubisoft states that this investment will strengthen the company's "core shareholding via the expansion of the concert around the group's founders to the benefit of its long-term stability and development".
The investment totals €300 million, which breaks down as €200 million in share acquisition and €100 million in capital increase. The official statement also mentions that Tencent is providing Guillemot Brothers with "a long-term unsecured loan to refinance its debt" as part of the deal.
The press release also makes clear that Guillemot Brothers Limited is still exclusively controlled by the Guillemot family:
Tencent will not be represented on its Board of Directors and will not obtain any consent or veto rights over the business.
This partnership will presumably help with Ubisoft's efforts in the Chinese gaming market, and the press release specifically mentions the "development of mobile titles from several of Ubisoft's major franchises and the launch of several of Ubisoft's PC titles in China".