A Ubisoft minority shareholder is mobilizing protesters outside the company's Paris HQ, alleging failures to disclose potential acquisition talks with Microsoft, EA, and other publishers interested in its major franchises.
In an exclusive statement obtained by IGN, AJ Investments CEO Juraj Krúpa condemned Ubisoft's leadership as "grossly mismanaged," demanding a concrete recovery plan to reverse sinking shareholder value, operational shortcomings, and missed market opportunities.
Krúpa accused Ubisoft of opaque governance, citing undisclosed strategic moves including a Saudi-funded Assassin's Creed Mirage DLC deal with Savvy Group.
The investor referenced a MergerMarket report detailing Microsoft and EA's rumored negotiations for Ubisoft IPs, stating: "Management never disclosed these discussions to stakeholders."
IGN has reached out to Ubisoft for comment.
October Bloomberg reports revealed Tencent and the Guillemot family exploring privatization bids after disastrous game cancellations and stock crashes. Ubisoft maintained it would disclose developments "when legally required."
Ubisoft's prolonged decline manifests through high-profile failures, studio shutdowns, endless game delays, and multiple restructuring waves.
Industry analysts speculate Tencent's fading interest stems from the Guillemots' insistence on retaining control, leaving few deep-pocketed suitors capable of rescuing the floundering publisher.
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Krúpa blasted Ubisoft's repeated delays of financial savior Assassin's Creed Shadows: "After affirming November 2024 release dates in July, management shockingly postponed to March 2025 weeks later - a foreseeable mistake that cratered retail investor portfolios while hedge funds profited from discounted shares."
The investor group alleges Ubisoft's selective disclosures disproportionately benefit institutional players like Credit Agricole and Goldman Sachs clients at small investors' expense.
AJ Investments urges frustrated shareholders to join May protests, demanding CEO Yves Guillemot's strategic review - advised by JP Morgan and Goldman Sachs - delivers tangible value improvements.
"This demonstration ensures management prioritizes shareholder interests during their ongoing evaluation," Krúpa stated. "We'll cancel if they present credible recovery measures."
The activist investor threatened legal action over "material misrepresentations," recalling similar privatization demands after Star Wars Outlaws' commercial failure.
September's scathing open letter to Ubisoft's board and Tencent demanded leadership changes amid catastrophic stock declines following Outlaws' underwhelming launch - later confirmed by Ubisoft as below projections.
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