Ubisoft is spinning off some of its top franchises, including "Assassin’s Creed," "Far Cry" and "Rainbow Six," into a new subsidiary funded by Tencent.

Ubisoft on Thursday announced it’s creating a new gaming subsidiary and that Chinese technology giant Tencent will invest 1.16 billion euros ($1.25 billion) into the unit.

Ubisoft has announced the establishment of a dedicated subsidiary based on its Assassin’s Creed, Far Cry, and Tom Clancy’s Rainbow Six brands, spearheaded by an investment of €1.16 bill… ...