Ubisoft Shareholder Plots Protest Outside Paris HQ, Accuses Company of Failing to Reveal 'Discussions' With Microsoft, EA, and Others Allegedly Interested in Acquiring IPs

A minority Ubisoft shareholder, AJ Investments, plans a protest outside the company's Paris headquarters. CEO Juraj Krúpa accuses Ubisoft of mismanagement, citing declining shareholder value, poor operational execution, and a failure to adapt to market trends. Krúpa alleges a lack of transparency regarding decisions, including the Assassin's Creed Mirage DLC partnership with the Savvy Group and undisclosed discussions with Microsoft, EA, and other potential acquirers of Ubisoft's intellectual properties, as reported by MergerMarket. Ubisoft has been contacted for comment.

Previously, Bloomberg reported discussions between Ubisoft's Guillemot family and Tencent to take the company private following several high-profile game failures, cancellations, and a plummeting share price. While those talks were exploratory, Ubisoft stated it would update the market as appropriate.

Ubisoft has experienced a prolonged period of underperformance, marked by game flops, layoffs, studio closures, cancellations, and numerous delays. Speculation continues regarding board proposals, with some suggesting Tencent's reluctance to proceed due to the Guillemot family's desire to retain significant control. The lack of a larger, financially capable buyer further complicates the situation.

### What's Ubisoft's Best Open-World Game?

Pick a winner

New duel1ST2ND3RDSee your ResultsFinish playing for your personal results or see the community’s!Continue playingSee results

Krúpa criticizes the multiple delays of Assassin's Creed, impacting the company's financial guidance and harming retail investors. He highlights the benefits to institutional investors who purchased at discounted prices. AJ Investments urges frustrated investors to join the May protest, aiming to pressure management for a shareholder-value-enhancing strategy. Should such a strategy be implemented, the protest will be called off.

Krúpa notes that Ubisoft management, advised by Goldman Sachs and JP Morgan, is conducting a strategic review, anticipating results in the coming months. AJ Investments is prepared to sue Ubisoft for allegedly misleading investors. This isn't the first time AJ Investments has called for changes at Ubisoft, having previously issued a strongly worded open letter expressing dissatisfaction with the company's performance and urging leadership changes or a sale following the underperforming launch of Star Wars Outlaws.