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, AJ Investments, led by CEO Juraj Krúpa, 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 interested in acquiring its franchises. Krúpa criticizes Ubisoft's management for what he describes as "horrible mismanagement," demanding a "clear roadmap for recovery" to address the company's declining shareholder value, lackluster operational performance, and failure to adapt to market trends.

In a statement to IGN, Krúpa accused Ubisoft of "hiding information," specifically mentioning an undisclosed Assassin's Creed Mirage DLC partnership with the Saudi investment firm Savvy Group. He also referenced a restricted article from MergerMarket that alleged discussions about acquiring Ubisoft IPs by Microsoft, EA, and others, which he claims were not disclosed to the public.

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

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

Ubisoft has been facing challenges for several years, marked by numerous delays, layoffs, studio closures, and game cancellations. Speculation continues about the strategic proposals being considered by Ubisoft's board, with some reports suggesting that Tencent is hesitant to proceed due to the Guillemot family's desire to retain significant control. Without Tencent's support, few companies have the resources to undertake a rescue of Ubisoft.

Krúpa's statement also highlighted the repeated delays of Assassin's Creed Shadows, initially planned for July 18, 2024, then pushed to November 15, 2024, and finally set for March 20, 2025. These delays, according to Krúpa, have led to significant declines in Ubisoft's stock price, adversely affecting retail investors while benefiting corporate and institutional investors like Credit Agricole, Goldman Sachs clients, and Morgan Stanley.

AJ Investments is calling on all frustrated shareholders to join the protest in May, emphasizing the need for Ubisoft's management to communicate more effectively and take decisive action. Krúpa noted that Ubisoft's management, with the help of Goldman Sachs and JP Morgan, is conducting a financial review of potential strategic options. If this review results in a significant increase in shareholder value, AJ Investments is prepared to cancel the demonstration.

Krúpa stressed the importance of transparency and accountability, urging Ubisoft to maximize shareholder value and listen to its investors. AJ Investments has threatened legal action against Ubisoft for misleading investors.

This is not the first time AJ Investments has voiced concerns about Ubisoft's direction. In September, following the disappointing launch of Star Wars Outlaws, AJ Investments sent an open letter to Ubisoft’s board and Tencent, criticizing the company's performance and urging a change in leadership and consideration of a sale.

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