‘Assassin’s Creed’ Maker Ubisoft Acknowledges M&A Chatter After Report Of Tencent Overture

France-based video game publisher Ubisoft acknowledged recent “press speculation” that its founders were in talks to sell the company.

Bloomberg News reported last week that the Guillemot family, which founded Ubisoft in 1986, was in talks with Tencent about a potential buyout. The parties reached a deal in 2022 that saw the Chinese tech giant gain a significant holding in the game maker.

“Ubisoft has noted recent press speculation regarding potential interests around the Company,” Ubisoft said in a statement. “It regularly reviews all its strategic options in the interest of its stakeholders and will inform the market if and when appropriate. The Company reiterates that management is currently focused on executing its strategy, centered on two core verticals – Open World Adventures and GaaS-native experiences.”

Asked by several media outlets to clarify whether it had participated in discussions, Ubisoft declined to comment.

While the video game sector overall continues to thrive, Ubisoft has hit a rough patch. The company drew an underwhelming response to its release of Star Wars Outlaws earlier this year and then announced it needed to push the release of the next installment of Assassin’s Creed back to 2025. Other major franchises under the Ubisoft tent include Driver, Far Cry, Just Dance and Prince of Persia.

Shares in Ubisoft, which trade in Paris, jumped last Friday after the report of deal talks. They have settled back since then and have slumped nearly 40% this year to date. In addition to the setback with Assassin’s Creed, the company reported disappointing financial results in the most recent quarter.