Shares of the French video game developer soared after a Bloomberg report that minority stakeholders Tencent and Ubisoft’s founding Guillemot family are considering options, including partnering to take the firm private. Ubisoft’s share price closed up about 33 per cent on Friday. (Bloomberg, The Logic)
Talking point: The Chinese tech giant and the Guillemot family have tapped advisers to discuss ways to revive Ubisoft’s value, according to Bloomberg’s report. Ubisoft’s market capitalization has dropped 40 per cent this year as its shares have traded at decade lows. The Assassin’s Creed developer last week delayed the release date for the game’s next installment by three months, and cut its net bookings forecast after missing sales targets. Ubisoft’s Quebec City studio is at the forefront of developing the new Assassin’s Creed game. The company has also faced pressure from activist investor AJ Investments, which is pushing for a sale and new CEO.