Ubisoft is forming with Tencent a new subsidiary based on its three most popular franchises, as rumored in the past few months.

The new subsidiary, in which Tencent is investing 1.16 billion euros for a 25% minority stake, is based on the Assassin's Creed, Far Cry, and Tom Clancy's Rainbow Six brands and will include the development teams of all three series based in Montréal, Quebec, Sherbrooke, Saguenay, Barcelona, and Sofia as well as the back-catalog and any new games currently under development or to be developed.

In regard to its relationship with Ubisoft, the new subsidiary will be granted by the publisher a worldwide, exclusive, irrevocable license in respect of the intellectual property and similar proprietary rights owned or licensable by Ubisoft in relation to the three brands in exchange for a royalty.

Martin Lau, President of Tencent, also commented on the new subsidiary formed with Ubisoft, saying:

"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."

Source - WCCFTech 

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