• Most Popular
  • Most Shared

Ubisoft to open Toronto studio

TORONTO
Mon Jul 6, 2009 3:27pm EDT
Visitors walk past the Ubisoft booth at the E3 Electronic Entertainment Expo in Los Angeles June 2, 2009. REUTERS/Phil McCarten

TORONTO (Reuters) - French videogame maker Ubisoft Entertainment SA is set to open a Toronto studio that will create 800 jobs over 10 years, the Ontario government said on Monday.

The Canadian province said in a statement it will invest C$263 million ($227 million) over 10 years in the company. It added that Ubisoft will invest over half a billion in the video game studio, expected to open later this year.

Ontario, Canada's manufacturing heartland, has been losing jobs in the midst of the nagging global economic downturn.

The announcement comes just one month after data showed Canada's unemployment rate hit an 11-year high in May as the recession resulted in big layoffs. The unemployment rate in Toronto was 9.3 percent in May.

($1=$1.16 Canadian)

(Reporting by Frank Pingue; Editing by Jeffrey Hodgson)


More from Reuters

An image of U.S. President Barack Obama is seen in an exhibition at the Nobel Peace Centre in Oslo December 9, 2009. Two leading international human rights groups gave Obama mixed reviews on his human rights record on Wednesday, a day before he is slated to accept the 2009 Nobel Peace Prize in Oslo. Human Rights Watch and Amnesty International urged Obama to use his acceptance speech on Thursday to renew U.S. leadership on human rights after its position was undermined by abuses committed during the Bush administration's war on terrorism. REUTERS/Chris Helgren

Copenhagen: What of Obama?

President Barack Obama’s decision to attend the climate talks in Copenhagen is said to show the White House is serious about pursuing a deal to curb global warming. What should Obama commit to on climate change? Share your views.  Full Article | Related Story 

    Climate Conference
    A crown in a file photo. REUTERS/File
    Special Report:

    No longer king of the hill

    When times were good, hedge fund managers could do what they wanted and people still lined up for a piece of the action. What will the post-crash, post-Madoff, post-Galleon hedge fund universe look like?  Full Article 

    Hedge Funds

    "There will be times when nations...will find the use of force not only necessary but morally justified."

    President Barack Obama,
    during his acceptance speech for the Nobel Peace Prize
      Barack Obama