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. They accuse Ubisoft of poor management and a lack of transparency, particularly regarding alleged discussions with Microsoft, EA, and other publishers interested in acquiring its franchises. Krúpa claims that Ubisoft has been "horribly mismanaged" and demands a clear recovery plan to address declining shareholder value and operational issues.

In a statement, Krúpa criticized Ubisoft for not disclosing information about potential partnerships, such as a DLC for Assassin's Creed Mirage with the Saudi investment firm Savvy Group. He also referenced a restricted article from MergerMarket that mentioned discussions about acquiring Ubisoft's IPs, which he alleges were not communicated 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 it would inform the market if and when appropriate.

Ubisoft has been facing challenges for years, including high-profile flops, layoffs, studio closures, and numerous game delays. Rumors suggest that Tencent may be hesitant to invest further due to the Guillemot family's desire to retain significant control, leaving few other companies capable of financially rescuing Ubisoft.

Krúpa's statement also highlighted the repeated 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.

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 that all Ubisoft shareholders deserve a company that maximizes value and operates transparently. He warned that AJ Investments is prepared to sue Ubisoft for misleading investors.

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 share price following the disappointing launch of Star Wars Outlaws, urging a change in leadership and considering a sale.

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