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

A minority shareholder in Ubisoft, led by Juraj Krúpa of AJ Investments, is organizing a protest outside the company's Paris headquarters. The protest stems from accusations that Ubisoft has failed to disclose discussions with Microsoft, EA, and other publishers reportedly interested in acquiring its franchises. Krúpa criticizes Ubisoft's management for what he describes as "horrible mismanagement," demanding a clear recovery plan to address declining shareholder value, poor operational execution, and failure to adapt to market trends.

In a statement to IGN, Krúpa accused Ubisoft of lacking transparency in its decision-making process, specifically citing undisclosed information about a partnership for an Assassin's Creed Mirage DLC with the Saudi investment firm Savvy Group. He also referenced a restricted article from MergerMarket alleging discussions between Microsoft, EA, and others interested in Ubisoft's IPs, which he claims were not disclosed to the public.

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

The unrest among shareholders comes after Bloomberg reported in October that Ubisoft's founding Guillemot family and major shareholder Tencent were exploring options to take the company private, following a series of high-profile flops, game cancellations, and a significant drop in share price. Ubisoft had stated it would inform the market if and when appropriate.

Ubisoft has been facing ongoing challenges, including multiple game delays and the repeated postponement of Assassin's Creed Shadows, which was initially set for July 18, 2024, then delayed to November 15, 2024, and finally rescheduled for March 20, 2025. These delays, according to Krúpa, have led to severe stock declines, adversely affecting retail investors while benefiting corporate and institutional investors who bought at distressed prices.

AJ Investments is calling on all frustrated Ubisoft investors to join the protest in May, highlighting the prolonged stagnation in the company's stock performance and the lack of decisive action from its management team. Krúpa mentioned that Ubisoft's management, advised by Goldman Sachs and JP Morgan, is conducting a financial review of potential strategic options, with results expected in the coming months. If these results do not effectively enhance shareholder value, the planned demonstration will proceed.

Krúpa emphasized the need for Ubisoft to operate with transparency and accountability, noting that the company has underperformed compared to its industry peers. AJ Investments is prepared to take legal action against Ubisoft for allegedly misleading investors.

This isn't the first time AJ Investments has voiced its discontent. In September, following the disappointing release of Star Wars Outlaws and a subsequent slump in Ubisoft's share price, the investor issued an open letter to Ubisoft's board and Tencent, urging a leadership change and considering a sale of the company.

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

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