China’s Tencent raises stake in ‘Assassin’s Creed’ maker Ubisoft

Tencent Holdings Ltd is raising its stake in Ubisoft Entertainment SA in a deal that values France’s biggest games developer at almost $10 billion, as deep-pocketed Chinese firms continue their overseas search for growth.

Interest in the maker of the “Assassin’s Creed” and “Tom Clancy’s” franchises comes as the world’s largest games firm by revenue counters slowing growth at home with purchases including 16.25% of Japan’s “Elden Ring” developer FromSoftware announced just a week ago – the same time domestic rival NetEase Inc said it would buy French games maker Quantic Dream.