Ubisoft, one of gaming’s biggest names, is once again in the hot seat. A minority shareholder is pushing back against what they call a troubling lack of transparency from the company’s leadership. The controversy? Alleged behind-the-scenes talks with Microsoft, EA, and other major publishers interested in acquiring some of Ubisoft’s intellectual property.
A Shareholder’s Frustration Boils Over
Juraj Krúpa, CEO of AJ Investments, isn’t holding back. In a statement obtained by IGN, Krúpa called Ubisoft “horribly mismanaged by current management” and demanded a clear plan for recovery. His concerns revolve around Ubisoft’s declining shareholder value, its struggles to keep up with market trends, and what he describes as “lackluster operational execution.”
But his biggest grievance? Ubisoft’s alleged failure to disclose critical business discussions to investors.
Krúpa claims the company has been keeping stakeholders in the dark about an Assassin’s Creed Mirage DLC partnership with Saudi investment firm Savvy Group. He also pointed to a report from business investment platform MergerMarket, which alleged that Microsoft, EA, and other publishers have engaged in discussions about acquiring Ubisoft’s IPs. According to Krúpa, Ubisoft never informed the public about these talks.
Ubisoft Responds—but Says Very Little
Ubisoft issued a statement to IGN, attempting to reassure investors:
“As we mentioned during our Q3 sales, the review of various transformational strategic and capitalistic options is 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 will inform the market in accordance with applicable regulations if and once a transaction materializes.”
It’s a standard corporate response—acknowledging that changes are being evaluated, but providing no real insight into what’s actually happening behind closed doors.
Ubisoft’s Ongoing Struggles
This isn’t the first time Ubisoft has faced internal turbulence. Back in October 2024, Bloomberg reported that Ubisoft’s founding Guillemot family and Chinese gaming giant Tencent were considering taking the company private. Those talks were reportedly exploratory, but the idea stemmed from a series of high-profile flops, game cancellations, and Ubisoft’s crumbling stock price.
And the problems haven’t stopped. Over the past few years, Ubisoft has been plagued by:
• Major game delays and cancellations
• Studio closures and layoffs
• Struggles with live-service models
• A general inability to produce consistent, high-quality hits
What’s Next for Ubisoft?
Speculation continues to swirl about Ubisoft’s future. With Tencent reportedly hesitant to increase its stake due to the Guillemot family’s insistence on maintaining control, options are dwindling. If Tencent steps back, only a handful of companies have the resources—and the interest—to scoop up Ubisoft’s assets.
The question remains: Will Ubisoft find a way to steady the ship, or is a major corporate shake-up inevitable? If shareholder frustration continues to mount, the gaming giant may not have much time left to figure it out.