Ubisoft’s share surge on being selected by Google for its video game streaming service

The fact that Google has selected Ubisoft for its video game streaming service underscores its technical prowess.

Following a statement from Google that it partnered with French video games maker Ubisoft to test its video game streaming service, Ubisoft’s shares rose on Tuesday and outperforming the relatively dull European markets.

In mid-trading sessions, Ubisoft’s shares were up by 2.4% at 98.94 euros, making the stock the best performer on Paris’ SBF-120 index, which was down by 0.9% on concerns over Italy’s economic and political situation.

On Monday, Google had said it would collaborate with Ubisoft to test its video game streaming service by offering the latest installment of Ubisoft’s Assassin’s Creed series.

“The fact Google has chosen Ubisoft and chosen the next AC game is a great endorsement of Ubisoft’s leading technological efforts and their flagship franchise in our view,” said Neil Campling, an analyst at Mirabaud Securities.

SO far this year, Ubisoft’s shares are up by nearly 50% in 2018, and hit a record high of 107.90 euros in July.

While Ubisoft’s founding Guillemot family owns around 20%, Tencent has a 5% stake as well.

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