Ubisoft lands $1.3bn Tencent investment for Vantage Studios

• Tencent now holds a 26.32% economic stake while Ubisoft retains full control.
• Vantage Studios is built to drive billion-euro ecosystems for Assassin’s Creed, Far Cry, and Rainbow Six.
• The proceeds will reduce Ubisoft’s net debt and support targeted investments.
• Vantage Studios forms a key pillar of Ubisoft’s new Creative Houses operating model.

Tencent has completed its strategic investment in Ubisoft Nova SAS, known as Vantage Studios, following a binding agreement on March 27th, 2025.

The deal brings in €1.16 billion ($1.3bn) in cash and focuses on studios tied to major Ubisoft franchises such as Assassin’s Creed, Far Cry, and Tom Clancy’s Rainbow Six.

Ubisoft said the investment places Vantage Studios at a pre-money enterprise value of €3.8bn ($4.3bn) and represents a major step in its transformation. 

The Assassin's Creed developer added that the move strengthens the company’s balance sheet, confirms the value of its key IP, and positions its top franchises for long-term growth.

Tencent now holds a 26.32% economic stake in Vantage Studios, while Ubisoft retains full control and consolidation of the entity. Both companies have also signed a shareholders’ agreement based on the terms outlined this March.

New undertaking 

Vantage Studios has been fully operational since October 1st, 2025. Ubisoft claimed it is built around autonomy, focus, and player centricity to accelerate the growth of its three biggest franchises toward billion-euro brand ecosystems. 

Based in France, the studio is led by co-CEOs Charlie Guillemot and Christophe Derennes, includes heads of franchises, and is overseen by an advisory committee.

The Tencent deal looked on track to close following Ubisoft's latest financials, which showed Q2 net bookings were up 39% year-over-year.

After recently halting trading of its shares, Ubisoft said the proceeds will reduce its consolidated non-IFRS net debt, support targeted investments, and give the company more financial flexibility during its strategic transformation.

Vantage Studios is also a central part of Ubisoft’s new Creative Houses operating model, aimed at improving creative focus and accountability. The full design of this model will be completed by year end and revealed in January.

“I am very pleased to announce the closing of our strategic partnership with Tencent, which now becomes a minority shareholder in our new subsidiary, Vantage Studios," said Ubisoft co-founder and Vantage Studios co-CEO Yves Guillemot. 

“Today's closing crystallises the value of our world-class IPs and marks a pivotal milestone in Ubisoft's ongoing transformation. It also brings in €1.16 billion of proceeds that deleverages the Group, strengthens our balance sheet and will support selected investment opportunities across the rest of the company."

Tencent president Martin Lau commented: “Tencent is delighted to be building on our strong relationship with Ubisoft through this investment in the launch of Vantage Studios. 

“With its capable team and world-class creative vision, we look forward to Vantage Studios accelerating the growth of Assassin's Creed, Far Cry, and Rainbow Six as evergreen platforms providing entertainment and inspiration to generations of players."