Why Tencent's Pony Ma is making a play for Ubisoft

The Chinese tech giant is paying $456 million for 5% stake in the company behind Rainbow Six and Assassin’s Creed, extending a global gaming shopping spree.

China's Tencent is adding yet another piece to its ever-growing entertainment and gaming empire.

The technology giant paid 369 million $456 million for a minority stake in Ubisoft Entertainment, the French game developer said in a statement on Wednesday.

Tencent, led by tycoon Pony Ma, now owns 5% of the Paris-listed company after buying 5.6 million shares at 66 per share.

With the latest investment, Tencent adds a string of popular first-person shooter and action role-playing games to its game portfolio, including the decades-old Rainbow Six series, Assassin’s Creed, FarCry and Watch Dogs. The new European additions will complement a...

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