Ubisoft’s Turbulent Times: Shareholder Discontent Amid Game Delays and Acquisition Speculations

One Ubisoft investor is reportedly preparing a protest against the company’s “extremely mismanaged” strategies, which have led to a “decrease in shareholder value.”

In a statement observed and shared by IGN, AJ Investments CEO Juraj Krupa is planning a protest to once again express dissatisfaction with the publisher’s management, highlighting Assassin’s Creed Shadows delays, falling stock prices, and reported acquisition discussions.

Last year, Bloomberg reported that Ubisoft was contemplating selling nearly the entire company to media giant Tencent. Krupa also referenced a report from private investment platform MergerMarket, which suggested that Ubisoft had engaged in talks with companies like Microsoft and EA about acquiring its intellectual properties without informing shareholders.

“Management delayed its flagship game (which is expected to save the company and its finances), Assassin’s Creed, initially set for release on July 18, 2024,” Krupa’s statement reads, typos included. “On that day, Ubisoft confirmed full-year projections for the year and the release of AC Shadows on November 15, 2024. Just a few months later, in September 2024, Ubisoft postponed the game again and adjusted its forecasts, which we believe was a decision that could have been anticipated by Ubisoft management.”

Krupa pointed out that the repeated delays, which pushed Shadows back to March 20, “led to significant declines in stock value, primarily impacting retail investors who have limited means to manage their holdings effectively.” Meanwhile, at that time, Ubisoft stated that the delays were due to efforts to enhance the game, which seems much more reasonable from a player’s perspective.

AJ Investments is organizing the demonstration for May to provide Ubisoft ample time to fulfill its commitments and change course. “If their actions truly enhance shareholder value, we will cancel the protest.” Otherwise, AJ Investments has also stated it is prepared to “pursue legal action against the company for deceiving investors.”

In a statement to IGN, Ubisoft reaffirmed that it is currently considering “various transformational strategic and capital options” to “maximize the value from Ubisoft’s assets and franchises for all stakeholders.”

While AJ Investments’ criticisms may seem severe, there is no denying that Ubisoft has encountered significant challenges for some time. Star Wars Outlaws and Avatar: Frontiers of Pandora fell short of expectations, Skull and Bones was a complete failure, and projects like the Splinter Cell and Prince of Persia: Sands of Time remake appear to be trapped in development limbo. Assassin’s Creed Shadows could potentially be the company’s redemption.