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Ubisoft Shareholders in Talks over Possible Buyout Terms, Sources Say

Ubisoft Entertainment logo is seen at the Paris Games Week (PGW), a trade fair for video games in Paris, France, October 27, 2024. (Reuters)
Ubisoft Entertainment logo is seen at the Paris Games Week (PGW), a trade fair for video games in Paris, France, October 27, 2024. (Reuters)
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Ubisoft Shareholders in Talks over Possible Buyout Terms, Sources Say

Ubisoft Entertainment logo is seen at the Paris Games Week (PGW), a trade fair for video games in Paris, France, October 27, 2024. (Reuters)
Ubisoft Entertainment logo is seen at the Paris Games Week (PGW), a trade fair for video games in Paris, France, October 27, 2024. (Reuters)

Shareholders of Ubisoft Entertainment SA are considering how to structure a possible buyout of the Assassin's Creed video game maker without reducing the founding family's control, two people familiar with the matter told Reuters.

The Guillemot family, which is the largest and founding shareholder, has been in talks with Tencent and other investors in recent weeks about funding a management-led buyout of France's largest video games maker, the people said, speaking on condition of anonymity.

However, the Guillemot family has indicated it would like to retain the control it has over the company, which also makes Just Dance, Far Cry and Tom Clancy's video game series, as part of a deal, the people said.

Tencent, currently the second-largest shareholder in Ubisoft and China's biggest social network and gaming firm, has yet to decide whether to participate in the buyout and increase its stake in the company, one of the people said.

This is partly because it has asked for a greater say on future board decisions including cash flow distribution in return for financing the deal, which has not been agreed upon with the Guillemot family, the person added.

Discussions between the two parties are ongoing as Tencent also wants to prevent any potential hostile takeover of Ubisoft by other investors, said the person, adding that Tencent's plan is to remain patient and wait for the founding family to agree to a deal.

Tencent may opt not to increase its stake in Ubisoft, as it considers its current direct holding of almost 10% in Ubisoft sufficient for maintaining its gaming business cooperation with the company, the person added.

Tencent declined to comment. A representative of the Guillemot family did not respond to requests for comment.

"We remain committed to making decisions in the best interests of all of our stakeholders" a spokesman for Ubisoft said. "In this context, as we have already indicated, the Company is also reviewing all its strategic options."

In October, Ubisoft said it regularly reviewed "all its strategic options", but declined further comment on a report of buyout interest.

Shares in Ubisoft rose as much as 16% after the Reuters report. Its shares were trading up 12.1% at 13.2 euros by 1445 GMT.

The buyout talks come as some minority shareholders including AJ Investments have been pushing for either a take-private or a sale of Ubisoft to a strategic investor amid the stock price plunge, Reuters previously reported.

The company's shares fell to their lowest level in the last decade in September after it cut its outlook on weaker-than-expected sales and postponed the launch of "Assassin’s Creed Shadows" title.

This week it announced it would discontinue development of its gaming title XDefiant and as a consequence close its production studios in San Francisco and Osaka, and ramp down production in Sydney.

Ubisoft is run by the Guillemot family, which owns 15% of the firm, followed by Tencent which owns just under 10%, according to LSEG data.

The family held about 20.5% of Ubisoft's net voting rights while Tencent owned 9.2% as of the end of April, as per the firm's latest annual report.

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Technology

Award-Winning Game Studio Chief Rules Out AI Art

AI (Artificial Intelligence) letters and robot hand are placed on computer motherboard in this illustration created on June 23, 2023. (Reuters)
AI (Artificial Intelligence) letters and robot hand are placed on computer motherboard in this illustration created on June 23, 2023. (Reuters)
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Award-Winning Game Studio Chief Rules Out AI Art

AI (Artificial Intelligence) letters and robot hand are placed on computer motherboard in this illustration created on June 23, 2023. (Reuters)
AI (Artificial Intelligence) letters and robot hand are placed on computer motherboard in this illustration created on June 23, 2023. (Reuters)

The head of Larian Studios, the developers behind 2023's game of the year "Baldur's Gate 3", has vowed to ban any use of AI art in the outfit's upcoming project "Divinity".

The intervention by Swen Vincke follows repeated episodes of fan outrage over AI art in games in recent months -- with this year's game of the year winner "Clair Obscur: Expedition 33" stripped of its Indie Game Awards wins over alleged use of generative AI.

"There is not going to be any GenAI (generative AI) art in 'Divinity'," Vincke said Friday in an "Ask Me Anything" session on discussion site Reddit.

Fans had blasted Larian last month after Vincke told Bloomberg some generative AI was being used during development.

"We already said this doesn't mean the actual concept art is generated by AI, but we understand it created confusion," Vincke posted on Friday.

"To ensure there is no room for doubt, we've decided to refrain from using GenAI tools during concept art development," he added.

Vincke had said in December that the team's use of generative AI was "to explore references, just like we use Google and art books... at the very early ideation stages".

The new "Divinity" -- revealed to great fanfare at the December 11 Game Awards in Los Angeles -- is hotly awaited by gamers enthralled by the sprawling story and engaging characters of "Baldur's Gate 3", which has sold more than 20 million copies.

Despite his commitment on AI art, Vincke said that generative AI "can help" with other aspects of development, as studios "continuously try to improve the speed with which we can try things out".

He insisted that would benefit gamers through "a more focused development cycle, less waste, and ultimately, a higher-quality game".

Some executives believe generative AI's infusion into the industry will lead to a flowering of more ambitious titles that cost less to produce.

But they are running up against artists' fears that they will be pushed out of work and some gamers' concern that AI use will make for blander, less creative work.

French title "Expedition 33" saw its Indie Game Awards titles including "game of the year" withdrawn last year over some AI-generated art assets, which developers Sandfall Interactive insists were placeholders that it replaced in an update to the final game.

Technology

Lenovo Unveils AI Agent to Bridge PCs, Phones and Wearables at CES

Attendees gather for the annual Consumer Electronics Show (CES) in Las Vegas, Nevada, on January 6, 2026. (AFP)
Attendees gather for the annual Consumer Electronics Show (CES) in Las Vegas, Nevada, on January 6, 2026. (AFP)
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Lenovo Unveils AI Agent to Bridge PCs, Phones and Wearables at CES

Attendees gather for the annual Consumer Electronics Show (CES) in Las Vegas, Nevada, on January 6, 2026. (AFP)
Attendees gather for the annual Consumer Electronics Show (CES) in Las Vegas, Nevada, on January 6, 2026. (AFP)

Lenovo, the world's top PC maker, unveiled its own AI assistant Tuesday at the CES tech show in Las Vegas, promising a tool that follows users seamlessly across laptops, smartphones and connected devices.

The Beijing-based company commanded 28 percent of global PC market share in the third quarter of 2025, ahead of rivals HP at 21.5 percent and Dell at 14.5 percent, according to US research firm Gartner.

Lenovo's new artificial intelligence agent, dubbed Qira, is designed as an autonomous interface capable of performing tasks rather than simply generating content on demand, a move Lenovo hopes will showcase the breadth of its product portfolio.

Unlike rivals focused on single categories, Lenovo was the only major manufacturer whose offering spanned laptops, tablets and smartphones -- under its Motorola brand, acquired in 2014 -- as well as servers and even supercomputers.

The company also unveiled prototypes of connected glasses and an AI-powered pendant, still in testing, that captures "important moments" with user consent by recording conversations, said Motorola's Angelina Gomez.

Codenamed the AI Perceptive Companion, the pendant features a microphone and camera and "sees what you see and hears what your hear," Lenovo vice president Luca Rossi told reporters.

An interaction with Qira can start via the pendant, continue on a smartphone and end on a laptop, with the agent retaining user context across devices.

It can summarize the highlights of a user's day, draft and send emails, or even select photos from archives to post on social media.

Lenovo stressed it is not positioning Qira as a rival to Microsoft's Copilot and announced the integration of Copilot into Motorola smartphones.

For major hardware makers, the challenge now is proving the utility of generative AI in everyday applications rather than simply flaunting cutting-edge tech.

Amid lingering geopolitical tensions with Washington, Lenovo was the only Chinese firm to take center stage at CES, choosing Las Vegas's futuristic Sphere venue for its showcase.

Executives emphasized the company's global footprint, with most revenue generated outside China and several top managers from overseas.

Technology

At CES, Auto and Tech Companies Transform Cars into Proactive Companions

The Afeela Prototype 2026 displayed during a Sony Honda Mobility news conference ahead of the CES tech show, Monday, Jan. 5, 2026, in Las Vegas. (AP)
The Afeela Prototype 2026 displayed during a Sony Honda Mobility news conference ahead of the CES tech show, Monday, Jan. 5, 2026, in Las Vegas. (AP)
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At CES, Auto and Tech Companies Transform Cars into Proactive Companions

The Afeela Prototype 2026 displayed during a Sony Honda Mobility news conference ahead of the CES tech show, Monday, Jan. 5, 2026, in Las Vegas. (AP)
The Afeela Prototype 2026 displayed during a Sony Honda Mobility news conference ahead of the CES tech show, Monday, Jan. 5, 2026, in Las Vegas. (AP)

In a vision of the near future shared at CES, a girl slides into the back seat of her parents' car and the cabin instantly comes alive. The vehicle recognizes her, knows it’s her birthday and cues up her favorite song without a word spoken.

“Think of the car as having a soul and being an extension of your family,” Sri Subramanian, Nvidia's global head of generative AI for automotive, said Tuesday.

Subramanian's example, shared with a CES audience on the show's opening day in Las Vegas, illustrates the growing sophistication of AI-powered in-cabin systems and the expanding scope of personal data that smart vehicles may collect, retain and use to shape the driving experience.

Across the show floor, the car emerged less as a machine and more as a companion as automakers and tech companies showcased vehicles that can adapt to drivers and passengers in real time — from tracking heart rates and emotions to alerting if a baby or young child is accidentally left in the car.

Bosch debuted its new AI vehicle extension that aims to turn the cabin into a “proactive companion.” Nvidia, the poster child of the AI boom, announced Alpamayo, its new vehicle AI initiative designed to help autonomous cars think through complex driving decisions. CEO Jensen Huang called it a “ChatGPT moment for physical AI.”

But experts say the push toward a more personalized driving experience is intensifying questions about how much driver data is being collected.

“The magic of AI should not just mean all privacy and security protections are off,” said Justin Brookman, director of marketplace policy at Consumer Reports.

Unlike smartphones or online platforms, cars have only recently become major repositories of personal data, Brookman said. As a result, the industry is still trying to establish the “rules of the road” for what automakers and tech companies are allowed to do with driver data.

That uncertainty is compounded by the uniquely personal nature of cars, Brookman said. Many people see their vehicles as an extension of themselves — or even their homes — which he said can make the presence of cameras, microphones and other monitoring tools feel especially invasive.

“Sometimes privacy issues are difficult for folks to internalize,” he said. “People generally feel they wish they had more privacy but also don’t necessarily know what they can do to address it.”

At the same time, Brookman said, many of these technologies offer real safety benefits for drivers and can be good for the consumer.

On the CES show floor, some of those conveniences were on display at automotive supplier Gentex’s booth, where attendees sat in a mock six-seater van in front of large screens demonstrating how closely the company’s AI-equipped sensors and cameras could monitor a driver and passengers.

“Are they sleepy? Are they drowsy? Are they not seated properly? Are they eating, talking on phones? Are they angry? You name it, we can figure out how to detect that in the cabin,” said Brian Brackenbury, director of product line management at Gentex.

Brackenbury said it's ultimately up to the car manufacturers to decide how the vehicle reacts to the data that's collected, which he said is stored in the car and deleted after the video frames, for example, have been processed. "

“One of the mantras we have at Gentex is we're not going to do it just because we can, just because the technology allows it,” Brackebury said, adding that “data privacy is really important.”