Ubisoft launches its new Tencent-backed subsidiary
Ubisoft has launched a new Tencent-backed subsidiary called Vantage Studios, which will oversee the company's major franchises, including Assassin's Creed, Far Cry, and Rainbow Six. The new studio is part of Ubisoft's reorganization to give its developers more autonomy and a quicker path to implementing player feedback. Tencent has taken a minority ownership stake in Vantage as part of a €1.16 billion ($1.36 billion) investment in the parent company. The co-CEOs of Vantage, Christophe Derennes and Charlie Guillemot, will have the final say, with Tencent playing an advisory role. Ubisoft's move comes as the company has faced challenges, including big-name flops, studio closures, and layoffs. The company hopes the new structure will help it adapt more quickly to the changing market.
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