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Ubisoft Shareholder Protests at Paris HQ, Alleges Company Hid Talks with Microsoft, EA on IP Acquisition

by Alexis Mar 26,2025

A minority shareholder in Ubisoft, led by Juraj Krúpa, CEO of AJ Investments, is organizing a protest at the company's Paris headquarters. The protest stems from accusations that Ubisoft has not been transparent about its strategic decisions, including alleged discussions with Microsoft, EA, and other publishers interested in acquiring its franchises. Krúpa claims that Ubisoft's management has been "horribly mismanaged," leading to declining shareholder value, poor operational execution, and a failure to adapt to market trends.

In a statement, Krúpa highlighted Ubisoft's lack of transparency, particularly regarding a partnership with the Saudi investment firm Savvy Group for an Assassin's Creed Mirage DLC. He also referenced a restricted article by MergerMarket that mentioned potential discussions about Ubisoft selling its IPs, which the company allegedly did not disclose to the public.

The situation is compounded by Ubisoft's recent struggles, including high-profile game flops, layoffs, studio closures, and numerous delays. Notably, the much-anticipated Assassin's Creed Shadows faced multiple delays, with its latest release date set for March 20, 2025. These delays and revised financial guidance have led to significant declines in Ubisoft's stock price, particularly affecting retail investors.

AJ Investments has expressed frustration over the lack of communication from Ubisoft's management and is calling on all investors dissatisfied with the company's prolonged stagnation to join the protest in May. The demonstration aims to pressure Ubisoft's management, which is currently reviewing strategic options with the help of Goldman Sachs and JP Morgan, to reach a conclusion that enhances shareholder value. If the review yields positive results, AJ Investments is willing to cancel the protest.

Krúpa emphasized the need for Ubisoft to maximize shareholder value and operate with transparency and accountability, noting the company's underperformance compared to its industry peers. AJ Investments has even threatened legal action against Ubisoft for allegedly misleading investors.

This is not the first time AJ Investments has voiced its concerns; in September, following the disappointing launch of Star Wars Outlaws, the firm sent an open letter to Ubisoft's board and major investor Tencent, urging a change in leadership and considering a sale of the company.

IGN has reached out to Ubisoft for a comment on these developments.

For those interested in Ubisoft's gaming legacy, let's take a moment to celebrate their best open-world game. While opinions may vary, many fans and critics alike consider Assassin's Creed Odyssey to be a standout title, offering a richly detailed world set in ancient Greece, with engaging gameplay and a compelling narrative.