Ubisoft shares reversed gains in afternoon trade on Friday after rising as much as 12% earlier on plans to set up a subsidiary to house three of its popular video game franchises.

French videogame maker Ubisoft said on Thursday it has set up a subsidiary in which China's Tencent will invest 1.16 billion euros ($1.25 billion).

The internal memo from Ubisoft CEO Yves Guillemot regarding that announcement has been acquired by Insider Gaming's Tom Henderson, with the CEO stressing the new business partnership will help ...

But all of it will still report up to Ubisoft proper and its current CEO, Yves Guillemot. “With the creation of a dedicated subsidiary that will spearhead development for three of our largest ...

Tencent has invested $1.25 billion in a new Ubisoft operating division that includes the core games Assassin’s Creed, Far Cry and Tom Clancy’s Rainbow Six brands. Ubisoft, the French video game giant ...

“Today Ubisoft is opening a new chapter in its history,” said chief executive officer Yves Guillemot in a statement. “As we accelerate the company’s transformation, this is a foundational ...

Tencent cannot increase its stake for the next five years — unless Ubisoft loses its majority in the mean time. Chief executive Yves Guillemot called the step a “new chapter in (Ubisoft’s ...

Ubisoft CEO Yves Guillemot shared his enthusiasm about this development, stating, "Today Ubisoft is opening a new chapter in its history. This is a foundational step in transforming Ubisoft’s ...

Ubisoft’s decision is based on the desire to maximize the potential of its major franchises, which the company itself values at around 4 billion euros for this new business unit. The subsidiary ...

In a bid to recover from underperformance by some of the company's main titles, the Guillemot family, Ubisoft's founder and largest shareholder, began exploring talks with the Chinese tech giant ...

Ubisoft announced Thursday it is spinning off three of its biggest franchises – “Assassin’s Creed,” “Far Cry” and “Rainbow Six” – into a new subsidiary backed by Tencent.