Nasdaq is reporting today that Ubisoft has finally parted ways with Vivendi, in a partnership that from the outside looking in, seemed a lot more toxic than either side would like to admit. For the past two years, Vevendi has been slowly lording over Ubisoft as part of a partnership deal the two companies had, so much so that Ubisoft formed a new partnership with another company in Tencent, who took a 5% share of the company and sought no voting rights, just so Ubisoft wouldn’t be completely overtaken. Today, Vevendi relinquished its 27.3% control of the company back to Ubisoft and will officially part ways. Below is a snippet from the article talking about Tencent’s investment in the company.
As part of the transaction, Ubisoft and Tencent have also announced today a strategic partnership that will significantly accelerate the reach of Ubisoft franchises in China in the coming years.
Yves Guillemot, CEO and Co-Founder, said: “The evolution in our shareholding is great news for Ubisoft. It was made possible thanks to the outstanding execution of our strategy and the decisive support of Ubisoft talents, players and shareholders. I would like to warmly thank them all. The investment from new long-term shareholders in Ubisoft demonstrates their trust in our future value creation potential, and Ubisoft’s share buy-back will be accretive to all shareholders. Finally, the new strategic partnership agreement we signed will enable Ubisoft to accelerate its development in China in the coming years and fully leverage a market with great potential.”
“Today, Ubisoft is fully reaping the benefits of our long-term strategy and the successful transformation towards a more recurring and profitable business. Ubisoft is perfectly positioned to capture the numerous video game growth drivers in the coming years. We are focused more than ever on delivering on our strategic plan.”