An investor in Ubisoft is claiming it has the support of 10% of shareholders looking to make major changes at the top of the organization, including a sale.
First reported by Reuters, AJ Investments says that it is building support for a sale of the company and potentially a change of leadership.
“We call on the management of Ubisoft to allow the sale of the company to third parties or private equity firms at a fair price,” the firm, which owns less than 1% of the company, said in a letter shared with Reuters.
The firm didn’t name the other investors it claimed to have the support of. They also declined to provide that information to Reuters when asked.
AJ Investments first made calls for a sale and change of executive leadership in early September. At the time, they said they believe the company is “mismanaged” while Ubisoft shareholders were “hostages of Guillemot family members and Tencent who take advantage of them.”
“Management is focused on pleasing investors with beating quarterly results and not focusing on long-term strategy to provide exceptional experience for the gamers,” they said in their first letter. “Our company has extensive knowledge about the gaming industry and we were longterm shareholder in Activision Blizzard and we started our Ubisoft position couple weeks ago and still adding to it.”
The latest letter has yet to be publicly posted.
Over the last few weeks, Ubisoft’s shares have fallen to 11-year lows and investigations have been started. On top of that, Assassin’s Creed Shadows has been delayed to February 2025.
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