Why is Tencent buying Ubisoft?

Guillemot went on to say that Tencent's increased stake into Ubisoft would bolster the company's efforts to grow abroad “while preserving our identity and values.” The past few years have been tumultuous for Ubisoft.

Will Tencent buy Ubisoft?

But Tencent will not be able to sell its shares for five years and will not be able to increase its stake in Ubisoft beyond 9.99% for a period of eight years. That effectively rules out a complete takeover of the gaming firm.

Why is Tencent buying everything?

Tencent is allegedly shifting its M&A strategy to "aggressively" focus on "buying majority stakes mainly in overseas gaming companies." As reported by Reuters, this change is in part due to Tencent's attempt to battle the slowing growth in its home country of China.

Who owns most of Ubisoft?

What went wrong with Tencent?

Tencent said Monday it had fired more than a hundred employees for violating company policies. Those accused were found to have embezzled company funds and accepting bribes, it added, with a number referred to police and some found guilty in court.

UBISOFT STOCK | Down 17 % on Tencent Buy-In | Why Investors DO NOT Like this News!

Why is Tencent losing value?

Shares of the online gaming company have tumbled 64% in Hong Kong since a January 2021 peak, wiping $623 billion off its market value. That's more than any other firm globally, driven by concerns about Tencent's outlook after Beijing's yearlong regulatory crackdown.

Who owns the most Tencent stock?

What is happening to Ubisoft?

Ubisoft's Project Q has now been reportedly cancelled. The PvP battle arena game was announced less than a year ago in April 2022. They've already delayed Skull and Bones six times now and the recent comments by CEO Yves Guillemot haven't helped.

Why has Ubisoft stock dropped?

Assassin's Creed maker Ubisoft sinks to seven-year low after slashing guidance, cancelling games.

Who wanted to buy Ubisoft?

Tencent is looking to acquire a larger piece of Ubisoft and is willing to pay a significant premium for it, according to a Reuters report.

What is the shady side of Tencent?

Tencent and online censorship

Privacy advocates have found that Tencent has shared the conversations of users of their applications with the Chinese government. The company has also used artificial intelligence to identify and block user-created images created to get around government censorship by Chinese citizens.

Why did China suspend Tencent?

GUANGZHOU -- China's Tencent Holdings and other major gaming vendors in the country are shutting down their games nationwide on Tuesday in an apparent tribute to late President Jiang Zemin, amid Beijing's tightening oversight of the gaming industry.

Does Tencent own TikTok?

Tencent Holdings, a Chinese multinational conglomerate, is an investor in ByteDance but does not have a majority stake in or control over TikTok.

What is the relationship between Tencent and Ubisoft?

The latest deal makes Tencent Ubisoft's single biggest shareholder with an overall stake of 11%, which can be further increased to as much as 17%.

Is Ubisoft in debt?

UbiSoft Entertainment debt/equity for the three months ending September 30, 2022 was 0.82. Ubisoft Entertainment operates in parts of Europe, Canada and the United States and its primary activities are the production, publishing and distribution of interactive entertainment products.

Does Ubisoft want to be acquired?

Despite this, Ubisoft is hoping to get acquired but that too just really isn't going well. Check out the trailer for Assassin's Creed Mirage below. Acquisitions are all the rage right now. We've all heard about Microsoft's attempt to acquire Activision which continues to face scrutiny - and a lawsuit from the FTC.

Why are so many people leaving Ubisoft?

Interviews with a dozen current and former Ubisoft developers cite a range of factors for the departures, including low pay, an abundance of competitive opportunities, frustration at the company's creative direction, and unease at Ubisoft's handling of a workplace misconduct scandal that flared in mid-2020.

Is Ubisoft in financial trouble?

Overall, Ubisoft projects about $537 million in losses for its current fiscal year, which concludes in March 2023.

Should you invest in Ubisoft?

Valuation metrics show that UbiSoft Entertainment Inc. may be undervalued. Its Value Score of A indicates it would be a good pick for value investors.

How many people left Ubisoft?

Five of the top 25 credited people who worked on 2021's Far Cry 6 have already left Ubisoft and 12 of the top 50 people who worked on 2020's Assassin's Creed Valhalla have left as well. Ubisoft's Montreal and Toronto studios have also each seen at least 60 employees leave in the last six months.

Will Ubisoft go back to Steam?

Ubisoft is the latest publisher to return to leading PC games marketplace Steam after a period of focusing on other stores. As spotted by Eurogamer, the company has created a Steam page for Assassin's Creed: Valhalla, the 2020 entry in Ubisoft's flagship series. It will release on December 6.

Is Ubisoft moving back to Steam?

Ubisoft games is returning to Steam after a three-year absence, beginning with the upcoming release of Assassin's Creed Valhalla on the storefront.

Does Tencent own a stake in Tesla?

On 28 March 2017, Tesla, Inc. announced Tencent had purchased a 5% stake in Tesla for US$1.78 billion, the automotive control systems of which it subsequently successfully performed penetration-testing until 2019.

What American companies does Tencent own?

Outside of China (which doesn't count Hong Kong, Nepal, or Tawain), Tencent owns 100% of Funcom, LeYou, Riot Games (League of Legends), Sharkmob, Sumo Group, Turtle Rock Studios, Wake Up Interactive, Inflexion, and 1C Entertainment shares. It owns a majority shares of Klei Entertainment (Don't Starve).

How does Tencent make so much money?

The Multi-Faceted One: Tencent

An increasingly important section for Tencent are payment services (included in 'Other' with 24.9%), which mostly refers to fees for online transactions through WeChat Pay. Other than that, Tencent makes money with digital ads on its media platforms and messengers (18.5%).