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 shareholder in Ubisoft, 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 decision-making, specifically mentioning the undisclosed Assassin's Creed Mirage DLC partnership with the Savvy Group and alleged acquisition discussions with Microsoft, EA, and other publishers, 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. These talks were exploratory, and Ubisoft stated it would update the market accordingly.

Ubisoft's recent struggles include numerous game flops, layoffs, studio closures, cancellations, and repeated delays. Speculation continues regarding board proposals, with some suggesting Tencent's reluctance to fully acquire Ubisoft due to the Guillemot family's desire to retain significant control. The lack of a larger buyer capable of investing the necessary funds further complicates the situation.

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Krúpa criticizes the multiple delays of Assassin's Creed, impacting the company's financial guidance and causing stock declines that disproportionately affected retail investors. He believes this benefited larger institutional investors who purchased at lower prices.

AJ Investments urges frustrated investors to join their May protest, aiming to pressure Ubisoft to increase shareholder value. They are awaiting the results of a strategic review by Goldman Sachs and JP Morgan and will cancel the protest if the review yields positive results for shareholders. AJ Investments also states their readiness to sue Ubisoft for misleading investors.

This isn't AJ Investments' first action. In September, they issued an open letter to Ubisoft's board, including CEO Yves Guillemot and Tencent, expressing dissatisfaction with the company's performance and share price, urging leadership changes and considering a sale. This followed the disappointing launch of Star Wars Outlaws and the subsequent share price plunge.