腾讯又出手！斥资11.6亿欧元入股育碧子公司

Core Viewpoint - Ubisoft has announced the establishment of a dedicated subsidiary based on its major franchises Assassin's Creed, Far Cry, and Rainbow Six, with Tencent investing €1.16 billion for approximately 25% equity [1] Group 1: Company Strategy - The new subsidiary aims to build a gaming ecosystem and develop these franchises into long-lasting brands, aligning with Tencent's strategy of creating "evergreen games" [1] - Ubisoft's pre-financing valuation for the new subsidiary is €4 billion, which is about four times its average annual sales revenue for the fiscal years 2023-2025 [1] - The establishment of the subsidiary is seen as a significant step in Ubisoft's transformation and operational model change, enhancing asset value and supporting long-term brand development [1] Group 2: Investment Details - Tencent will have customary minority shareholder rights and specific consent rights regarding the disposal of important assets of the new subsidiary [2] - Tencent has committed to a five-year lock-up period for its shares in the new subsidiary, unless Ubisoft loses majority voting rights and equity [2] - Prior to this transaction, Tencent had already acquired approximately 10% of Ubisoft's shares, increasing its stake through previous investments [3] Group 3: Market Expansion - Tencent's strategy includes a clear focus on expanding its presence in overseas markets, with investments being a key method for this expansion [4] - Over the past few years, Tencent has made significant investments and acquisitions in various gaming companies globally, including major firms like Activision Blizzard and Epic Games [4] - Tencent's approach to gaming investments has shifted towards longer-term plans, accepting timelines of 5-10 years to develop high-quality games, which aligns with its evergreen strategy [4]