Chinese tech giant Tencent is looking to level up its presence overseas as things get tough at home.
Tencent, the world’s largest videogame company by revenue, has invested around $300 million in the largest shareholder of French videogame maker Ubisoft. Tencent would get a 49.9% stake in Guillemot Brothers, controlled by Ubisoft’s founding family, and would provide the holding company a long-term unsecured loan, Ubisoft said.