Earlier today, Ubisoft and Tencent announced a new subsidiary valued at approximately €4 billion ($4.3 billion). GPlayr has received Ubisoft CEO Yves Guillemot’s internal memo on the announcement.
It reads,
“Hello everyone,
I’m pleased to share an important announcement that will mark a milestone in Ubisoft’s history.
Following a process to review different strategic options for Ubisoft’s future, we have just signed an exceptional agreement with one of our trusted shareholders, Tencent, with whom we have a solid relationship.
Their €1.16 billion investment will benefit all of Ubisoft. We will be able to firmly take back control of our future and renew with the serenity needed to create the best games.
The terms of this partnership are straightforward: we will establish a dedicated subsidiary within Ubisoft that will bring together our three most powerful franchises: Assassin’s Creed, Rainbow Six and Far Cry. This subsidiary will gather the teams working on these brands, primarily in the studios of Montreal, Quebec City, Sherbrooke, Saguenay, Barcelona, and Sofia. Tencent will be a 25% shareholder of this new subsidiary, with the aim of boosting these franchises so they become undisputed global icons.
This historic agreement is above all a recognition of the extraordinary work you have been doing for years: the value of these three brands directly reflects your individual and collective talent and efforts, which have allowed us to create these beloved franchises.
This investment will also give us the means to accelerate the changes we’ve been discussing for several months across the group – changes that many of you have been longing for, as revealed by the Ubisoft XP survey. These changes are in line with the initiatives that Marie-Sophie has been sharing recently, which aim to put the creation of unique games and player satisfaction back at the heart of our daily work. This is what will enable us to return to a higher level of profitability.
This announcement comes at a pivotal time, after the very positive reception of Assassin’s Creed Shadows and the excitement sparked by the announcement of Rainbow 6 Siege X, of which we can be very proud.
I want to express my deepest gratitude for your resilience, tenacity, courage, and creativity – all the qualities that make Ubisoft a truly unique company and that helped us overcome a challenging period over the last few years.
The coming months will be dedicated to shaping our next chapter. Of course, this new step in our transformation will raise many questions, including on an individual level. We are committed to keeping you regularly informed, answering your questions, and providing visibility on the next steps.
I hope you can join the global livestream that will be held tomorrow at 3:30 p.m. CET during which I will share a few words with you. You’ll receive an invitation shortly.
See you tomorrow, and thank you again,
Yves”
Understandably, employee’s are now nervous. In a follow-up email, Marie-Sophie de Waubert (Chief Studios & Portfolio Officer) said,
“Hello everyone,
I wanted to follow up immediately with all of you in Montreal, Quebec City, Sherbrooke, Saguenay, Barcelona, and Sofia after Yves’ email regarding the new Business Unit that is being created.
First and foremost, I want to emphasize that the agreement we announced is a powerful enabler and an exciting opportunity for Ubisoft. It will help us accelerate our evolution and improve how we make games with greater focus and agility.
Tencent’s investment is a strong testament to their trust in our ability to grow Assassin’s Creed, Far Cry, and Rainbow Six. This is a direct result of the incredible work you’ve done in making these franchises iconic, as a lead or major codev studio.
I also want to be clear: if you’re not currently working on these brands, it doesn’t mean your work matters any less. This agreement will benefit all of Ubisoft, giving us the means to spark more innovation and creativity across the board. This marks the beginning of a new chapter, and you play a vital role in shaping it.
In the coming weeks and months, we will work hard to build the best organization possible – for Ubisoft, for our teams, and for our players.
Of course, this brings some uncertainty and questions. Right now, we may not have all the detailed answers, but we are committed to communicating with you transparently and regularly. Supporting you through this transition is the top priority for your local and your global leadership teams. Don’t hesitate to reach out to them and stay tuned locally; usual or dedicated “studio times” will be also good forums to keep you updated and answer your questions.”
What do you think of Ubisoft and Tencent forming a new subsidiary? Let us know in the comments or on our community forum!
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