Ubisoft Shareholder Protests at Paris HQ, Alleges Secret Talks with Microsoft, EA on IP Acquisition

A minority shareholder in Ubisoft, led by AJ Investments CEO Juraj Krúpa, is organizing a protest outside the company's Paris headquarters. Krúpa accuses Ubisoft of mismanagement and lack of transparency, particularly regarding undisclosed discussions with Microsoft, EA, and other publishers interested in acquiring its franchises. He criticizes the company for not sharing crucial information, including a partnership with the Saudi investment firm Savvy Group for an Assassin's Creed Mirage DLC.

Krúpa also referenced a restricted article from MergerMarket alleging discussions about acquiring Ubisoft IPs, which were not disclosed to the public. This comes after Bloomberg reported in October that Ubisoft's founding Guillemot family and shareholder Tencent were exploring taking the company private due to a series of flops, cancellations, and a declining share price.

Ubisoft has faced numerous challenges, including high-profile flops, layoffs, studio closures, and multiple game delays. The latest issue involves 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 and revised financial guidance have negatively impacted the stock price, primarily affecting retail investors while benefiting institutional investors like Credit Agricole, Goldman Sachs, Morgan Stanley, and others.

AJ Investments is rallying all frustrated shareholders to join the protest in May, emphasizing the need for Ubisoft's management to address the company's prolonged stagnation and lack of decisive action. Krúpa mentioned that Ubisoft's management, advised by Goldman Sachs and JP Morgan, is conducting a financial review of strategic options. If the review results in increased shareholder value, 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 threatened legal action against Ubisoft for allegedly misleading investors.

This is not the first time AJ Investments has voiced its concerns. In September, following the disappointing release of Star Wars Outlaws, the investor sent an open letter to Ubisoft's board and Tencent, urging a leadership change and considering a sale due to the company's poor performance and plummeting share price.

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