A minority shareholder in Ubisoft is organizing protests outside the company's Paris headquarters, alleging management failed to disclose potential acquisition talks with Microsoft, EA, and other publishers interested in Ubisoft's franchises.
In an exclusive statement obtained by IGN, AJ Investments CEO Juraj Krúpa condemned Ubisoft's leadership, stating the company suffers from "chronic mismanagement" and demanding executives present a "credible turnaround strategy" to address declining shareholder value, poor execution, and inability to adapt to industry shifts.
Krúpa accused Ubisoft of multiple transparency failures, including withholding information about Assassin's Creed Mirage DLC developed in partnership with Saudi investment firm Savvy Group. The shareholder also cited a restricted MergerMarket report detailing acquisition discussions regarding Ubisoft IPs, claiming management never disclosed these negotiations.
IGN has reached out to Ubisoft for comment.
This development follows Bloomberg's October report about discussions between Ubisoft's founding Guillemot family and Tencent regarding taking the company private - talks Ubisoft maintains were preliminary. The publisher has faced mounting challenges including high-profile game failures, studio closures, and persistent delays.
Industry analysts speculate Tencent may be reconsidering involvement due to disagreements over control demands from the Guillemot family. With few potential buyers capable of rescuing Ubisoft's struggling operations, the company faces dwindling options.

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Krúpa's statement criticized Ubisoft's handling of Assassin's Creed Shadows' repeated delays, noting the stock price volatility disproportionately harmed retail investors while benefiting institutional buyers purchasing shares at depressed prices.
AJ Investments is mobilizing frustrated shareholders for May protests, alleging management communications violations. Krúpa referenced Ubisoft's ongoing financial review with Goldman Sachs and JP Morgan advisers, demanding conclusions that deliver shareholder value.
"All Ubisoft investors deserve transparency and proper value realization," Krúpa emphasized. "Chronic underperformance versus peers demonstrates urgent need for leadership that listens to shareholders." AJ Investments warned of potential legal action for investor misinformation.
This echoes AJ Investments' September open letter demanding leadership changes and exploring sale options following Star Wars Outlaws' disappointing launch and subsequent stock decline. That title's underperformance was later confirmed by Ubisoft management.