Chinese tech company Tencent invested $1.25 billion in a new part of Ubisoft, a video game maker. Tencent now owns 25% of this new part, which is worth $4 billion. They will manage popular games like Assassin’s Creed and Far Cry. Tencent is a big player in video games and owns WeChat, a famous messaging app.
Ubisoft’s co-founder, Yves Guillemot, said Tencent’s investment is a new beginning for the company. Tencent is now Ubisoft’s second largest shareholder. Martin Lau, Tencent’s President, is excited about the partnership.
Ubisoft will focus on other games like Tom Clancy’s Ghost Recon. Their stock value dropped in recent years due to game delays and lower sales. To boost their value, they released a new Assassin’s Creed game called Shadows. The popular Assassin’s Creed series has sold over 200 million copies worldwide and made $4 billion in revenue by 2024.
Vocabulary List:
- Investment /ɪnˈvɛstmənt/ (noun): The action or process of putting money into something to earn a profit.
- Partnership /ˈpɑːrtənərʃɪp/ (noun): The state of being partners in a business or other venture.
- Shareholder /ˈʃɛərˌhoʊldər/ (noun): An owner of shares in a company.
- Revenue /ˈrɛvənju/ (noun): The total income generated by the sale of goods or services.
- Focus /ˈfoʊkəs/ (verb): To direct attention or concentration towards something.
- Delays /dɪˈleɪz/ (noun): Periods of time in which something is postponed or slowed down.
