Ubisoft Shareholder Protests at Paris HQ, Accuses Company of Hiding Acquisition Talks with Microsoft, EA

A minority shareholder in Ubisoft, led by AJ Investments CEO Juraj Krúpa, is organizing a protest outside the company's Paris headquarters. The protest stems from accusations that Ubisoft has failed to disclose alleged discussions with Microsoft, EA, and other publishers interested in acquiring its franchises. Krúpa criticizes Ubisoft's management for poor performance, lack of transparency, and failure to adapt to market trends, demanding a clear recovery plan.

In a statement to IGN, Krúpa accused Ubisoft of hiding information, including a partnership for an Assassin's Creed Mirage DLC with the Saudi investment firm Savvy Group. He also referenced a restricted article from MergerMarket that reported on potential acquisition talks involving Ubisoft's IPs, which the company did not disclose to the public.

Ubisoft has been approached by IGN for comment on these allegations.

The situation at Ubisoft has been tumultuous, marked by high-profile game flops, cancellations, and a declining share price. In October, Bloomberg reported exploratory talks between Ubisoft's founding Guillemot family and shareholder Tencent about taking the company private. Ubisoft stated it would inform the market if necessary.

Rumors suggest Tencent may be hesitant to move forward due to the Guillemots' desire to retain significant control. Without Tencent's backing, few companies have the resources to acquire Ubisoft.

Krúpa's statement also highlighted the repeated delays of Assassin's Creed Shadows, initially postponed from July 18, 2024, to November 15, 2024, and then to March 20, 2025. These delays led to revised financial guidance and significant stock declines, affecting retail investors while benefiting institutional investors such as Credit Agricole, Goldman Sachs, Morgan Stanley, and others.

AJ Investments is calling on all frustrated Ubisoft investors to join the May protest, emphasizing the need for transparency and accountability. They are aware of Ubisoft's ongoing strategic review, advised by Goldman Sachs and JP Morgan, and expect results soon. If the review positively impacts shareholder value, AJ Investments will cancel the demonstration.

Krúpa stressed the importance of Ubisoft maximizing value and listening to its shareholders, warning that AJ Investors is prepared to sue the company for misleading investors if necessary. This follows a previous open letter from AJ Investments in September, urging Ubisoft to consider going private and change leadership after the disappointing launch of Star Wars Outlaws, which led to a significant share price drop.

For those interested in Ubisoft's games, the company has a rich catalog of open-world titles. Here's a look at some of the best:

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