From gamesindustry.biz:

Ubisoft has said that it expects a new generation of home consoles to be on the market by 2012.

The French publisher is increasing headcount to work on future technology, with mergers also on the cards to increase development and technology resources.

"We want to take advantage of a company that could bring more technology to us, or new brands," said CEO Yves Guillemot.

"So we have now enough to help us to grow the company for not only next year but to get ready for the coming of the next generation consoles that are probably going to happen 2011, 2012.

Source

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Tags: nextgen, ubisoft