Assassin's Creed maker Ubisoft reverses gains after Tencent-backed spinoff move [MSNBC.com]
UBISOFT ENTMT UNSP/ADR (UBSFY)
NASDAQ:AMEX Investor Relations:
ubisoft.com/en-us/company/investor_center/index.aspx
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Source: MSNBC.com
In this articleArtwork for Ubisoft's upcoming "Assassin's Creed Shadows" game.John Keeble | Getty ImagesThe French video game publisher on Thursdayrevealed plans to form a new gaming subsidiaryTencentThe subsidiary will include Ubisoft's best-known games brands, including Assassin's Creed, Far Cry and Tom Clancy's Rainbow Six, according to a press release.Ubisoft shares initially jumped as much as 11% Friday morning. However, in afternoon deals the stock declined and was last trading down 2%.The game maker said Thursday that its newly formed unit would "focus on building game ecosystems designed to become truly evergreen and multi-platform."watch nowVIDEO2:4102:41Saudi Arabia has highest penetration rate of women professional gamers globally: Saudi princeConvergeThe investment from Tencent values the new subsidiary at 4 billion euros, Ubisoft said. That's more than double Ubisoft's current market capitalization.Investors were hoping for a move from Ubisoft to clear up uncertainty surr
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