Ubisoft is spinning off Assassin’s Creed, Far Cry, and Tom Clancy’s Rainbow Six into a subsidiary backed by Tencent, according to an announcement on Thursday. The Chinese gaming giant will invest €1.16 billion (~$1.3 billion) for a 25 percent stake in the carveout, which will have a total value of about €4 billion (~$4.3 billion).

Tencent ( OTCPK:TCEHY) will invest €1.16B to take a 25% stake in the new unit, which would value it at pre-money enterprise value around €4B -- significantly higher than Ubisoft's valuation as a company. The unit is based on Ubisoft's Assassin's Creed, Far Cry, and Tom Clancy's Rainbow Six brands.

Shadows is Ubisoft's most successful game in the franchise by a Japanese country mile, ranking high in both sales and player counts.

Yes, Shadows revives the iconic assassination simulator of 2007. But the amenities of modern gaming — lifelike graphics, semi-permanent gore, an abundance of murder-ready gizmos — have twisted the game into something else too: a slasher movie in which you’re the killer.

French gaming company Ubisoft announced the establishment of a subsidiary focused on developing core gaming titles in partnership with Chinese game publisher Tencent. The deal, valued at around 1.16 billion euros ($1.