Tencent acquires 49.9 percent stake in Ubisoft’s holding company

Tencent, the Chinese gaming giant, has purchased a 49.9 percent stake in Guillemot Brothers Limited, the holding company of Ubisoft, as well as a 5 percent voting stake in the company, according to Reuters.

Tencent already owned a 4.5 percent stake in Ubisoft itself, and it now has much more control behind the scenes as the French publishers readies its next big game announcements. As a result of the deal, Tencent can reportedly raise its stake in Ubisoft up to 9.99 percent.