Kawundo.com
LOS ANGELES (AP) â Shares of Ubisoft jumped more than 30% Friday, following reports that Tencent and the Guillemot family are considering a buyout of the video game maker.
Bloomberg news reported that Tencent and Guillemot family â minority stakeholders in Ubisoft â have been discussing ways to stabilize the company after it lost more than half its market value this year. Shares surged 33.5% to about $15.57 Friday, according to FactSet.
Ubisoft declined to comment. Tencent did not immediately respond to a request for comment.
France-based Ubisoft is the publisher behind the well-known franchise âAssassinâs Creed.â Ubisoftâs shares fell last month to their lowest point in more than a decade after its latest title âStar Wars Outlawsâ underperformed and the company announced that it would delay the latest âAssassinâs Creedâ game.
Yves Guillemot, Ubisoftâs CEO, said in a statement last week that the companyâs âsecond quarter performance fell short of our expectations.â
Brought to you by www.srnnews.com
Armed with a Laptop and a cup of coffee, Rothschild is on a mission to conquer the news world, one headline at a time.
Follow Kawundo.com on X and Facebook for breaking news on your feed. All day, every day.