Ubisoft Shareholder Protests at Paris HQ, Alleges Company Hid Talks with Microsoft, EA on IP Acquisition

A minority shareholder in Ubisoft, represented by AJ Investments, is planning a protest outside the company's Paris headquarters. The protest stems from allegations that Ubisoft has failed to disclose discussions with major players like Microsoft, EA, and other publishers interested in acquiring its franchises. Juraj Krúpa, CEO of AJ Investments, has accused Ubisoft's management of mismanagement and a lack of transparency, particularly in relation to a potential Assassin's Creed Mirage DLC partnership with the Saudi investment firm Savvy Group.

Krúpa criticized Ubisoft for not informing the public about discussions highlighted in a restricted MergerMarket article, which suggested interest from Microsoft, EA, and others in acquiring Ubisoft's IPs. This comes after Bloomberg reported in October that Ubisoft's founding Guillemot family and shareholder Tencent were exploring options to take the company private amidst a series of flops, game cancellations, and a declining share price.

Ubisoft has faced a challenging period marked by high-profile flops, layoffs, studio closures, and numerous game delays. The situation has fueled rumors about the company's strategic direction, with some suggesting that Tencent is hesitant to proceed due to the Guillemots' desire to maintain significant control over the company.

Krúpa's statement also highlighted the repeated delays of Ubisoft's highly anticipated game, Assassin’s Creed Shadows, which was initially set for release on July 18, 2024, then pushed to November 15, 2024, and finally scheduled for March 20, 2025. These delays, according to Krúpa, led to severe stock declines, adversely affecting retail investors while benefiting corporate and institutional investors.

AJ Investments is calling on all frustrated shareholders to join the protest in May, expressing dissatisfaction with Ubisoft's management and their handling of the company's strategic options review, advised by Goldman Sachs and JP Morgan. Krúpa emphasized the need for Ubisoft to enhance shareholder value and operate with greater transparency and accountability. If the company's review results in significant improvements, AJ Investments is willing to cancel the demonstration.

This is not the first time AJ Investments has publicly challenged Ubisoft's management. Previously, in September, they issued an open letter criticizing the company's performance and share price following the disappointing launch of Star Wars Outlaws, urging a leadership change and considering a sale of the company.

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