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Who Operates Assassin’s Creed, Far Cry, and Rainbow Six? Vantage, Ubisoft, and Tencent Explained

Vantage Studios is responsible for developing and expanding three Ubisoft franchises. Tencent invested for a minority economic interest, while Ubisoft retained exclusive control.
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Vantage Studios is the Ubisoft subsidiary responsible for developing and expanding Assassin’s Creed, Far Cry, and Rainbow Six. Ubisoft launched it on October 1, 2025; Tencent later invested in the studio but did not take control. Ubisoft said it retained exclusive control and consolidation after Tencent received a 26.32% economic interest.

What Vantage Studios does

Ubisoft announced Vantage Studios on October 1, 2025, as the organization responsible for developing and expanding three of its major franchises: Assassin’s Creed, Far Cry, and Rainbow Six. At launch, Vantage brought together teams working on those franchises in six locations:

  • Montréal
  • Québec
  • Sherbrooke
  • Saguenay
  • Barcelona
  • Sofia

Ubisoft described the structure as combining shared services and technical resources with more direct control for developers over the games they build. That is the company’s intended operating approach, not an independently measured result. Ubisoft’s October 1, 2025 announcement introduced the studio and its remit.

Who owns and controls Vantage Studios?

Tencent’s investment closed on November 21, 2025. Ubisoft said Tencent invested €1.16 billion for a 26.32% economic interest in Vantage Studios. Ubisoft also said the studio remained exclusively controlled and consolidated by Ubisoft. In practical terms, Tencent is a minority investor; it is not the controlling owner or the operator of the three franchises.

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Ubisoft reported a pre-money enterprise value of €3.8 billion for Vantage Studios in its closing announcement. This is Ubisoft’s stated transaction valuation, not an independently established market value. Ubisoft’s November 21, 2025 closing announcement gives the investment terms and control description.

Entity Role in the disclosed structure
Vantage Studios Develops and expands Assassin’s Creed, Far Cry, and Rainbow Six.
Ubisoft Retains exclusive control and consolidation of Vantage Studios.
Tencent Holds a 26.32% economic interest following its November 2025 investment; it does not control Vantage.

How Vantage fits Ubisoft’s Creative Houses

Ubisoft described Vantage as its first “Creative House” in its FY2025–26 first-half update. The company says the model is intended to strengthen creative vision, focus, efficiency, autonomy, and accountability. It identifies autonomy, focus, and player centricity as Vantage’s guiding principles. These are Ubisoft’s stated aims for the organization, not evidence that a particular game’s creative direction or development process has already changed.

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Did Tencent receive film or television rights?

Not as an immediate result of the investment, according to the November 21, 2025 disclosure. Ubisoft separately described a call option concerning its audiovisual and transmedia business for the three franchises, including film, television, and location-based entertainment. The disclosure sets out possible exercise periods beginning on the fourth, fifth, and sixth anniversaries of the investment’s completion.

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Vantage could exercise during a 30-day period beginning on each of those anniversaries. If Vantage did not exercise, Tencent could exercise on Vantage’s behalf. The disclosed price would be the higher of operating net costs incurred since completion or €1. This is a potential separate transaction: the option disclosure does not establish that those rights transferred when Tencent invested. The terms are described in Ubisoft’s November 21, 2025 regulatory disclosure.

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What the change means for players

The announced change is organizational: development and expansion of the three franchises sit within a Ubisoft subsidiary designed as a dedicated Creative House. Ubisoft has described the goals and structure, but the announcements do not establish specific changes to release schedules, game features, teams’ day-to-day work, or player-facing services. Nor do they establish that Tencent directs the games. Any claim about a particular title’s development or future should be based on information specific to that game, rather than inferred from the investment alone.

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