Previously we’ve reported on Tencent seeking to increase their stake in gaming company Ubisoft, known for IPs such as Assassin’s Creed, Rainbow Six, and Far Cry. Now more information has come out on the amount Tencent is willing to pay up for the gaming giant.

A new report (via Reuters) confirms the Chinese conglomerate will be more than doubling their stake in the company from 4.5% to 9.99%. A more important value would be how much they spent for this increase – as Tencent purchased new stock at a value of 80 euros per share.

This is well above the value when the report was made at 43.5 euros. As of the time of this writing, the stock price for Ubisoft has dropped even further down to 35.96 euros as a result of the news.

Interestingly, based on the amount Tencent was willing to spend to raise their stake, it appears they view Ubisoft as being worth $10 billion USD, when they are currently valued at under half that with a value of 4.51 billion.

Again, the Chinese conglomerate is very well known within the gaming sphere for their numerous acquisitions of developers. Some recent examples include their recen and large stake in Elden Ring developer FromSoftware, which they did alongside Sony.

They also acquired companies such as 1C Entertainment and Inflexion Games within the last year. Of course, they are also known for being the owners of Riot Games, known for their popular titles in League of Legends and Valorant.

It seems that despite China’s moves towards restricting time spent gaming over the past year, the company still believes in investing large amounts of money in acquiring, or in this case, owning a big share amount of gaming companies.