Ubisoft Shareholder Plots Protest Outside Paris HQ, Accuses Company of Failing to Reveal 'Discussions' With Microsoft, EA, and Others Allegedly Interested in Acquiring IPs

A minority shareholder in Ubisoft, represented by AJ Investments CEO Juraj Krúpa, is organizing a protest outside the company's Paris headquarters. The protest stems from accusations of mismanagement and a lack of transparency, particularly regarding alleged discussions with Microsoft, EA, and other publishers interested in acquiring Ubisoft's franchises.

In a statement seen by IGN, Krúpa criticized Ubisoft's management for failing to address declining shareholder value, poor operational execution, and an inability to adapt to market trends. He accused the company of withholding information, including details about an Assassin's Creed Mirage DLC partnership with the Saudi investment firm Savvy Group, and not disclosing talks with other companies about acquiring its IPs, as reported by MergerMarket.

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

Recent reports from Bloomberg highlighted that Ubisoft's founding Guillemot family and shareholder Tencent were exploring the possibility of taking the company private after a series of high-profile flops, game cancellations, and a significant drop in share price. Ubisoft stated that it would inform the market if and when appropriate.

Ubisoft has been struggling for years, marked by layoffs, studio closures, and numerous game delays. Rumors suggest that Tencent might be hesitant to move forward due to the Guillemot family's desire to maintain control, leaving few viable options for the company's future.

Krúpa's statement also addressed the repeated delays of Assassin's Creed Shadows, originally set for release on July 18, 2024, then moved to November 15, 2024, and finally postponed to March 20, 2025. These delays, according to Krúpa, have led to severe stock declines, primarily affecting retail investors while benefiting institutional investors like Credit Agricole, Goldman Sachs, Morgan Stanley, and others.

AJ Investments is calling on all frustrated investors to join the May protest, emphasizing the need for decisive action from Ubisoft's management. They are aware of Ubisoft's ongoing financial review, advised by Goldman Sachs and JP Morgan, and expect results soon. If the review leads to enhanced shareholder value, AJ Investments is prepared to cancel the demonstration.

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

This is not the first time AJ Investments has voiced its concerns. In September, following the disappointing release of Star Wars Outlaws, they issued an open letter to Ubisoft's board, urging a leadership change and consideration of a sale due to the significant drop in share price.

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