Finance
Ubisoft, Tencent agree 4 billion euro Vantage Studios tie-up
Published by Global Banking and Finance Review
Posted on November 21, 2025
1 min readLast updated: January 20, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on November 21, 2025
1 min readLast updated: January 20, 2026
Ubisoft and Tencent have completed a 4 billion euro deal for Vantage Studios, focusing on major gaming franchises. Tencent holds a 26.32% stake while Ubisoft retains control.
(Reuters) -Ubisoft said on Friday it has completed Tencent's investment in Vantage Studios, a new unit built around its Assassin's Creed, Far Cry and Tom Clancy's Rainbow Six franchises.
The deal values Vantage at a pre-money enterprise value of 3.8 billion euros ($4.37 billion) and includes a 1.16 billion euro cash injection from Tencent for a 26.32% economic interest.
Ubisoft retains exclusive control of the subsidiary.
Under the agreement, Tencent must hold its Vantage stake for five years unless Ubisoft loses its majority interest. Ubisoft is required to keep control for at least two years. If Ubisoft’s ownership changes in a board-approved deal, it can buy back Tencent’s shares at market price but if it declines, Tencent can force a sale.
($1 = 0.8690 euros)
(Reporting by Jerome Terroy and Leo Marchandon, Editing by Louise Heavens)
Venture capital is a type of private equity financing that is provided by venture capital firms to startups and small businesses with perceived long-term growth potential.
An economic interest refers to the financial stake or ownership that an investor has in a company or asset, which can include rights to profits and losses.
A subsidiary is a company that is completely or partially owned by another company, known as the parent company, which controls its operations.
A cash injection is the infusion of capital into a business or project, often to support growth, operations, or to stabilize financial conditions.
Enterprise value is a measure of a company's total value, often used as a comprehensive alternative to equity market capitalization, calculated as market cap plus debt, minus cash and cash equivalents.
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