The beleaguered game house just announced it’s spinning off a new subsidiary to house its three biggest cash cows: Assassin’s Creed, Far Cry, and Tom Clancy’s Rainbow Six.

This new outfit—still unnamed, —will assemble talent from Ubisoft’s studios in Montréal, Quebec; Sherbrooke; Saguenay; Barcelona; and Sofia.

In return, Tencent is lobbing in a €1.16 billion ($1.25 billion) investment for a minority stake, further cementing the Chinese tech giant's creeping influence over yet another Western game maker.

Ubisoft CEO Yves Guillemot shared his enthusiasm about this development, stating, "Today Ubisoft is opening a new chapter in its history. This is a foundational step in transforming Ubisoft’s operating model, enabling us to be both agile and ambitious.

With the rest of Ubisoft now focusing on The Division and Ghost Recon, you can practically sense the desperation as they try to squeeze more out of its Tom Clancy IPs.

At least there’s a silver lining: the newly formed division won’t abandon narrative single-player games completely, despite the siren song of free-to-play and multiplayer trends. Assassin’s Creed: Shadows managed to hit three million players, which is a pulse, if not a comeback.

Ubisoft’s not out of the woods. It’s still limping from waves of layoffs, dud releases, and flirtations with selling itself outright. Tencent might’ve bought some time, but the reset button hasn’t been hit yet.