Ubisoft Jumps After Purchase of Tom Clancy Name for Games

Bloomberg writes: " Ubisoft Entertainment SA, Europe's second-largest maker of video games, rose the most in two months in Paris after agreeing to buy the rights to the name of author Tom Clancy, whose books have been adapted for Ubisoft games.

The shares rose as much as 5.91 euros, or 12 percent, to 54.98 euros, and traded at 53.89 euros at 11:44 a.m. in Paris. Before today, shares of Ubisoft, based in the Paris suburb of Montreuil-sous-Bois, had slipped 29 percent this year.

Ubisoft agreed with Clancy to buy all intellectual property rights to his name for video games and related products such as books and movies, the company said March 20. Royalty savings from the accord will lift operating profit by at least 5 million euros ($7.8 million) a year, the company said."

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