The venture is backed by an investment of 1.25 billion dollars from the Chinese tech giant Tencent, which thereby acquires 25 percent of the new company.
Tencent has been a part-owner of Ubisoft since before.
The goal, according to Ubisoft, is to "build timeless ecosystems" for multiple platforms around the major games "Assassin's Creed", "Far Cry", and "Tom Clancy's Rainbow Six".
CEO Yves Guillemot calls it a "new chapter" in the company's history.
As recently as in January, Ubisoft announced that it would cut 185 jobs and close an office in the UK. The Stockholm office was also reported to be affected by the cuts.
