Ubisoft Shareholder Accuses Company of Withholding Talks with EA, Microsoft
A shareholder of Ubisoft has accused the company of failing to disclose meetings with Electronic Arts (EA) and Microsoft regarding the potential acquisition of its intellectual properties (IP).
The shareholder, AJ Investments, which holds less than 1% stake in Ubisoft, is planning a protest outside the company’s Paris headquarters in May. The firm’s CEO, Juraj Krúpa, criticized Ubisoft’s management, claiming the company is “horribly mismanaged” and has failed to adequately inform investors about ongoing strategic discussions.
Krúpa expressed frustration over what he described as a lack of transparency, stating that Ubisoft did not “appropriately communicate its plans” or notify shareholders about reported meetings with EA, Microsoft, and other potential buyers.
As a result, Krúpa is calling on disgruntled investors to join the protest, particularly those frustrated with Ubisoft’s stagnant stock performance and the absence of decisive action from leadership. He also warned that AJ Investments is prepared to take legal action, alleging the company misled investors.
However, Krúpa acknowledged that Ubisoft’s management is currently conducting a financial review of various strategic options, with advisory support from Goldman Sachs and JP Morgan.
In response to the allegations, Ubisoft reaffirmed its previous stance, stating that its review of strategic and capital investment opportunities is still ongoing.
“The Board has established an ad-hoc independent Committee to oversee this formal and competitive process, so as to extract the best value from Ubisoft’s assets and franchises for all stakeholders,” Ubisoft said in a statement to IGN.
The company assured that it would inform the market in accordance with regulatory requirements if and when a transaction is finalized.
