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. They accuse Ubisoft of mismanagement and failing to disclose crucial information, including alleged discussions with Microsoft, EA, and other publishers interested in acquiring its franchises. Krúpa criticizes Ubisoft's senior management for declining shareholder value, poor operational execution, and inability to adapt to market trends.

In a statement to IGN, Krúpa highlighted Ubisoft's lack of transparency, particularly regarding 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 mentioned discussions about acquiring Ubisoft's IPs, which were not disclosed to the public.

IGN has reached out to Ubisoft for a response to these allegations.

Previously, in October, Bloomberg reported that Ubisoft's founding Guillemot family and shareholder Tencent were exploring taking the company private due to a series of high-profile flops, game cancellations, and a plummeting share price. Ubisoft stated they would inform the market if and when appropriate.

Ubisoft has been facing challenges for years, marked by flops, layoffs, studio closures, and numerous game delays. Rumors suggest that Tencent may be hesitant to proceed due to the Guillemots' desire to retain significant control, leaving few viable options for the company's future.

Krúpa's statement also addressed the repeated delays of Assassin's Creed Shadows, initially set for July 18, 2024, then moved to November 15, 2024, and finally to March 20, 2025. These delays, according to Krúpa, led to severe stock declines, primarily affecting retail investors while benefiting corporate and institutional investors.

AJ Investments is calling on all frustrated Ubisoft investors to join the protest in May, emphasizing the need for transparency and accountability. 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 increased shareholder value, AJ Investments may cancel the demonstration.

Krúpa stressed the importance of Ubisoft maximizing value and improving performance compared to its 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 and Tencent, criticizing the company's performance and urging a leadership change and potential sale following the disappointing launch of Star Wars Outlaws, which led to a significant drop in Ubisoft's share price.

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