Ubisoft has sold its minority stake in mobile publisher Gameloft to investment bank Calyon.
The move ends an historic association that began when Gameloft was created as a wholly owned subsidiary of the French company in 1999. Over the years its stake has reduced to just under 20 per cent, although the Guillemot brothers that founded Ubisoft retain a private holding.This move was prompted by Ubisoft's desire to focus on the expansion of core publisher/developer business. Yves Guillemot, chief executive officer of Ubisoft, said: "The video game market offers numerous internal and external growth opportunities. We have therefore decided to sell our stake in Gameloft in order to focus on Ubisoft's expansion and strengthen our ability to seize all such growth opportunities."
The two companies hinted that the informal agreement that made Gameloft the exclusive licensor or Ubisoft games would continue.
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