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

A minority shareholder in Ubisoft, AJ Investments, led by CEO Juraj Krúpa, is organizing a protest outside the company's Paris headquarters. The protest stems from accusations that Ubisoft's management has failed to disclose discussions with Microsoft, EA, and other publishers interested in acquiring its franchises. Krúpa claims that Ubisoft is "horribly mismanaged" and demands a "clear roadmap for recovery" to address declining shareholder value, poor operational execution, and a lack of adaptation to market trends.

Krúpa alleges that Ubisoft has been withholding information, including a partnership for an Assassin's Creed Mirage DLC with the Saudi investment firm Savvy Group. He also references a MergerMarket article that reported on discussions between Ubisoft and potential buyers like Microsoft and EA, which he claims were not disclosed to the public.

Ubisoft has faced challenges in recent years, including high-profile flops, layoffs, studio closures, game cancellations, and numerous delays. The company's founding Guillemot family and shareholder Tencent have explored taking Ubisoft private, but these talks remain exploratory.

Rumors persist about the board's considerations, with some suggesting Tencent is hesitant to invest further due to the Guillemot family's desire to retain significant control. Without Tencent's backing, few other entities have the resources to rescue Ubisoft.

Krúpa's statement also highlighted the multiple delays of Assassin's Creed Shadows, initially postponed from July 18, 2024, to November 15, 2024, and then again to March 20, 2025. These delays, according to Krúpa, led to severe stock declines, primarily affecting retail investors while benefiting corporate and institutional investors who bought at lower prices.

AJ Investments is calling on all frustrated shareholders to join the May protest, emphasizing the need for Ubisoft's management to communicate more effectively and take decisive action. Krúpa noted that Ubisoft's management, advised by Goldman Sachs and JP Morgan, is reviewing strategic options, and the protest aims to push for a conclusion that enhances shareholder value. If such a conclusion is reached, AJ Investments may cancel the demonstration.

Krúpa stressed the importance of transparency and accountability, urging Ubisoft to listen to its shareholders and improve its performance compared to industry peers. AJ Investments has also threatened legal action against Ubisoft for misleading investors.

This isn't the first time AJ Investments has voiced concerns; in September, following the disappointing release of Star Wars Outlaws, they issued an open letter to Ubisoft's board and Tencent, calling for leadership changes and considering a sale due to the significant drop in share price after the game's launch.

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