Ubisoft is thinking about creating a new company with Tencent to overcome the crisis

French publisher Ubisoft recently announced the appointment of leading consultants to explore “transformational strategic and financial options” and appears to have reached one possible path forward.

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As reported by Bloomberg, citing informed sources, the founders of Ubisoft – the Guillemot family – are in negotiations with Tencent about creating a new enterprise with some assets of the French company.

The parties are currently discussing a list of Ubisoft assets to be included in the new company and their value. It should be noted that the final decision has not yet been made, and negotiations may end in nothing.

The potential deal would see Tencent gain a stake in the new venture and more control over some of Ubisoft’s franchises, which would allow the tech giant to expand its gaming business outside of China.

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A Tencent representative declined to comment on the situation, while Ubisoft referred to a recent announcement. In it, CEO Yves Guillemot also assured that the company is aimed at “unlocking the full potential of our assets.”

In October, Bloomberg informants reported that the Guillemot family and Tencent were exploring with consultants ways to stabilize and increase the company’s value. One of the options was to buy it out from the Chinese giant.