Bloomberg reported on October 4, 2024, that Tencent and Ubisoft’s founding Guillemot family were considering options that included a potential buyout of Ubisoft. That was an attributed report about an option under consideration—not confirmation of a signed agreement or completed acquisition. Ubisoft’s later-confirmed Tencent deal involved a minority investment in a separate subsidiary, Vantage Studios, not a buyout of Ubisoft as a whole.
What Bloomberg reported about a possible Ubisoft buyout
Bloomberg’s October 4, 2024 report said Tencent and the Guillemot family were considering options including a potential buyout, citing people familiar with the matter. The report described a possibility being considered; it did not establish that the parties had signed a deal or that Ubisoft had been acquired. Bloomberg’s October 4, 2024 report is the source for that account.
The report did not identify a named source for the buyout discussion. No confirmed competing Ubisoft buyout offers are established by the available reports, so other hypothetical bidders should not be treated as actual participants.
Did Ubisoft confirm a buyout?
No. On October 7, 2024, Ubisoft’s response, as reported by Game World Observer, said the company was aware of recent press speculation and “regularly reviews all its strategic options.” That statement acknowledged speculation; it did not confirm a buyout proposal or agreement. Game World Observer reported Ubisoft’s response.
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Whether the reported buyout option later advanced to a formal proposal or was abandoned is not established by these reports. The later Vantage Studios investment does not answer that question.
What Tencent’s earlier Ubisoft relationship involved
Tencent and Ubisoft already had a disclosed relationship before the 2024 report. In an announcement dated September 6, 2022, Ubisoft said Tencent would acquire a 49.9% economic interest and 5% of the voting rights in Guillemot Brothers Limited, the Guillemot family’s holding company. Ubisoft also said its board had authorized Tencent to increase its direct Ubisoft stake from 4.5% to as much as 9.99% of Ubisoft’s capital or voting rights. Those terms described an investment arrangement, not Tencent control of Ubisoft. Ubisoft’s investor materials contain the company’s announcement.
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The 2022 announcement also set limits specific to that agreement: a five-year restriction on Tencent disposing of its Ubisoft shares and an eight-year restriction on increasing its direct stake beyond 9.99%, subject to stated exceptions. These terms should not be read as a complete statement of current ownership or as evidence that a Ubisoft buyout took place.
How the reported buyout differs from the confirmed Vantage Studios deal
Ubisoft later announced a distinct Tencent transaction involving Vantage Studios, a subsidiary. On November 21, 2025, Ubisoft said the investment had closed: Tencent invested €1.16 billion for a 26.32% economic interest in Vantage Studios. Ubisoft said it retained exclusive control of, and continued to consolidate, the subsidiary. This transaction was not a buyout of Ubisoft as a whole. Ubisoft’s investor announcement gives the closing terms.
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| Question | Reported buyout possibility | Vantage Studios investment |
|---|---|---|
| When? | Bloomberg report dated October 4, 2024. | Closed November 21, 2025, according to Ubisoft. |
| What was the scope? | A potential buyout of Ubisoft was among the options reportedly considered. | A Tencent investment in Ubisoft subsidiary Vantage Studios. |
| What was the status? | Attributed reporting about consideration; no signed deal or closing was established. | Completed investment, announced by Ubisoft. |
| Who had control? | A change of control was not established by the report. | Ubisoft said Vantage remained exclusively controlled and consolidated by Ubisoft. |
Ubisoft CEO Yves Guillemot described the completed subsidiary transaction this way: “I am very pleased to announce the closing of our strategic partnership with Tencent, which now becomes a minority shareholder in our new subsidiary, Vantage Studios.” The statement concerns Vantage Studios, not the 2024 buyout possibility.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why the distinction matters
For anyone following the company as an investor or tracking corporate ownership, a report that parties are considering a buyout is not the same as an announced transaction. A completed minority investment in a subsidiary also does not establish that the parent company was sold. The 2024 report and the 2025 Vantage Studios closing therefore describe different events with different scope and status.
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Ubisoft’s 2024–25 annual report had described the Tencent-backed subsidiary transaction before its closing, with closure then expected by year-end 2025. The subsequent November 21, 2025 announcement confirmed that separate investment. Ubisoft’s investor materials include its annual report and closing announcement.
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