LOS ANGELES (AP) 鈥 Shares of Ubisoft jumped more than 30% Friday, following reports that Tencent and the Guillemot family are considering a buyout of the video game maker.
Bloomberg news reported that Tencent and Guillemot family 鈥 minority stakeholders in Ubisoft 鈥 have been discussing ways to stabilize the company after it lost more than half its market value this year. Shares surged 33.5% to about $15.57 Friday, according to FactSet.
Ubisoft declined to comment. Tencent did not immediately respond to a request for comment.
France-based Ubisoft is the publisher behind the well-known franchise 鈥淎ssassin鈥檚 Creed.鈥 Ubisoft鈥檚 shares fell last month to their lowest point in more than a decade after its latest title 鈥淪tar Wars Outlaws鈥 underperformed and the company announced that it would delay the latest 鈥淎ssassin鈥檚 Creed鈥 game.
Yves Guillemot, Ubisoft鈥檚 CEO, said in a statement last week that the company鈥檚 鈥渟econd quarter performance fell short of our expectations.鈥
