Ubisoft Spins Off 'Assassin's Creed,' 'Far Cry' and 'Rainbow Six' With $1.25 Billion Backing From Tencent

Ubisoft announced Thursday it is spinning off three of its biggest franchises – "Assassin's Creed," "Far Cry" and "Rainbow Six" – into a new subsidiary backed by Tencent. The new division will be funded by Chinese tech company to the tune of $1.25 billion. According to Ubisoft, the new group will "focus on building game ecosystems designed to become truly evergreen and multi-platform." "Today Ubisoft is opening a new chapter in its history," Yves Guillemot, the co-founder and CEO, said. "As we accelerate the company's transformation, this is a foundational step in . . .