Assassins Creed-maker Ubisofts shares surge 11% on deal to spin off top game franchises

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Ubisoft shares surged on Friday after the French video game publisher announced a deal to spin out some of its best-selling franchises. On Thursday, Ubisoft revealed plans to form a new gaming subsidiary, with Chinese technology giant Tencent investing 1.16 billion euros ($1.25 billion) into the unit. The subsidiary will include Ubisofts best-known games brands, including Assassins Creed, Far Cry and Tom Clancys Rainbow Six, according to a press release. Ubisoft shares jumped 11% as of 10:50 a.m. Paris time. The game maker said Thursday that its newly formed unit would "focus on building game ecosystems designed to become truly evergreen and multi-platform."

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