Ubisoft shares jump following reports of Tencent, Guillemot family considering buyout

By Sarah Parvini, The Associated Press on October 4, 2024.

FILE - The logo of French video game publisher Ubisoft is pictured at the Paris games week in Paris, Nov. 4, 2017. (AP Photo/Christophe Ena, File)

LOS ANGELES (AP) – Shares of Ubisoft jumped more than 30% Friday, following reports that Tencent and the Guillemot family are considering a buyout of the video game maker.

Bloomberg news reported that Tencent and Guillemot family – minority stakeholders in Ubisoft – have been discussing ways to stabilize the company after it lost more than half its market value this year. Shares surged 33.5% to about $15.57 Friday, according to FactSet.

Ubisoft declined to comment. Tencent did not immediately respond to a request for comment.

France-based Ubisoft is the publisher behind the well-known franchise “Assassin’s Creed.” Ubisoft’s shares fell last month to their lowest point in more than a decade after its latest title “Star Wars Outlaws” underperformed and the company announced that it would delay the latest “Assassin’s Creed” game.

Yves Guillemot, Ubisoft’s CEO, said in a statement last week that the company’s “second quarter performance fell short of our expectations.”