After the disastrous release of Cyberpunk 2077, many feared for the Polish developer CD Projekt Red. However, the studio acknowledged the flaws and worked hard to correct them, and has since announced several exciting projects in the The Witcher series as well as a huge expansion for Cyberpunk 2077 (which has also received a very popular Netflix anime series).
The investment seems to have paid off, and now Forbes estimates that CD Projekt Red is worth $3.5 billion. This means that CD Projekt Red is now the largest game maker in Europe after overtaking France's Ubisoft, which is valued at $3 billion. Forbes also believes that Ubisoft's low valuation makes it a prime target for acquisition by Microsoft, Sony or any other large tech giant looking to grow in the industry.
By comparison, Sony recently bought Bungie for $3.6 billion (far more than Ubisoft). As successful as Destiny is, it's hard to ignore a treasure trove of series like Assassin's Creed, Far Cry, The Division, Rainbow Six, Splinter Cell, Ghost Recon and of course upcoming blockbusters like the new Star Wars Outlaws and Avatar: Frontiers of Pandora.
Ubisoft's value can also be compared to Activision Blizzard, where Microsoft intends to pay $68.7 billion for the latter, while Bethesda went under the hammer for $7.5 billion. Other giants include Capcom, valued at $8 billion, Square Enix at $5.5 billion and Take Two at $25 billion.
Both CD Projekt Red and Ubisoft are thus relative lightweights in this context.