Ubisoft is spinning off some of its top franchises, including "Assassin’s Creed," "Far Cry" and "Rainbow Six," into a new subsidiary funded by Tencent.

Ubisoft is spinning off Assassin’s Creed, Far Cry, and Tom Clancy’s Rainbow Six into a subsidiary backed by Tencent, according to an announcement on Thursday. The Chinese gaming giant will invest €1.16 billion (~$1.3 billion) for a 25 percent stake in the carveout, which will have a total value of about €4 billion (~$4.3 billion).

Assassin’s Creed,” “Far Cry” and “Rainbow Six Siege” will lead IP portfolio for new Ubisoft company amid market rush for multimedia licenses

Ubisoft Entertainment is restructuring its business by creating a new subsidiary focused on Assassin's Creed, Far Cry, and Tom Clancy's Rainbow Six. Tencent is investing €1.16 billion for a minority stake,

As outlined in Ubisoft's press release about this deal, Tencent has agreed to invest €1.16bn for a "minority stake" of around 25% in the new subsidiary, which has been left unnamed for now and is valued at around €4 billion.

Ubisoft announced Tencent has invested €1.16 billion ($1.25 billion) for a minority stake in a newly created subsidiary that will spearhead the development of its three biggest franchises going forward: Assassin’s Creed, Far Cry, and Rainbow Six.

The goal is to transform these series into truly "evergreen, multi-platform" ecosystems built for the long haul. Ubisoft CEO Yves Guillemot framed it as a "foundational