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SHAREWATCH: Ubisoft stock jumps 12% after Clancy purchase
Tim Ingham Mar 26 2008, 10:09am
Investors see biggest share hike in two months as value rises €5.91
Shares in Ubisoft rose the most in two months yesterday, after the firm announced that it had bought the complete rights to the Tom Clancy franchise.
According to Bloomberg, shares rose as much as 5.91 euros, or 12 percent, to 54.98 euros.
Before yesterday’s rise, shares of Paris-based Ubisoft had slipped 29 percent this year.
Ubisoft agreed to buy all intellectual property rights to Tom Clancy’s name for video games and related products such as books and movies, the company said this week.
Royalty savings from the deal will lift Ubisoft’s operating profit by at least five million euros a year, the company said.
