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

A minority shareholder in Ubisoft, represented by AJ Investments and its CEO Juraj Krúpa, is organizing a protest at the company's Paris headquarters. Krúpa accuses Ubisoft of mismanagement and a lack of transparency, particularly regarding alleged discussions with Microsoft, EA, and other publishers interested in acquiring its franchises. He claims that Ubisoft has not disclosed crucial information, including a partnership for an Assassin's Creed Mirage DLC with the Saudi investment firm Savvy Group. Additionally, a restricted article from MergerMarket mentioned undisclosed talks about acquiring Ubisoft's IPs, which Krúpa believes should have been shared with the public.

IGN has reached out to Ubisoft for a comment on these allegations.

In October, Bloomberg reported exploratory discussions between Ubisoft's founding Guillemot family and shareholder Tencent to take the company private, following a series of high-profile flops, game cancellations, and a significant drop in share price. Ubisoft stated it would inform the market if and when necessary. The company has been facing a prolonged downward spiral, marked by layoffs, studio closures, and repeated game delays.

Rumors persist about potential proposals the Ubisoft board is considering, with some suggesting Tencent's reluctance to proceed due to the Guillemots' desire to maintain control. Without Tencent's support, few companies have the financial capacity to rescue Ubisoft.

Krúpa criticized the management's handling of the upcoming Assassin's Creed Shadows, which was initially set for release on July 18, 2024, but delayed multiple times, eventually scheduled for March 20, 2025. These delays and revised financial guidance have led to severe stock declines, primarily affecting retail investors while benefiting corporate and institutional investors such as Credit Agricole, Goldman Sachs, Morgan Stanley, and others.

AJ Investments is calling on all frustrated shareholders to join the protest in May, believing that Ubisoft's management has not communicated appropriately. They are aware of Ubisoft's financial review of strategic options, advised by Goldman Sachs and JP Morgan, and expect results soon. If the review leads to increased shareholder value, AJ Investments will cancel the demonstration.

Krúpa emphasized the need for Ubisoft to operate with transparency and accountability, noting the company's underperformance compared to industry peers. AJ Investments is prepared to sue Ubisoft for misleading investors if necessary.

This is not the first time AJ Investments has voiced concerns. In September, they issued an open letter to Ubisoft's board, including CEO Yves Guillemot and investor Tencent, urging a change in leadership and considering a sale following the disappointing performance of Star Wars Outlaws, which led to a significant drop in Ubisoft's share price.

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