💨 Abstract

Ubisoft shares rose 12% after announcing a deal with Tencent to set up a new subsidiary worth 4 billion euros. The new unit will focus on popular franchises like Assassin's Creed, Far Cry, and Tom Clancy's Rainbow Six. The deal aims to strengthen Ubisoft's balance sheet and alleviate its debt, following underperformance in 2024.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖