Artwork for Ubisoft’s upcoming Assassin’s Creed: Shadows game.
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French video game publisher Ubisoft The company said on Thursday it would appoint advisers to review and pursue strategic options after a report last year suggested most of its backers were considering a takeover.
Ubisoft said in a strategy update that it has hired “leading consultants” to explore “transformation strategies and capital options to maximize value for stakeholders.”
“This process will be overseen by independent members of the board of directors. Once the transaction materializes, Ubisoft will notify the market in accordance with applicable regulations,” the company said in a statement late Thursday.
In October, Bloomberg News reported that the Guillemot family, which founded Ubisoft nearly four decades ago, and Chinese tech giant Tencent were considering acquiring the company. According to reports, Ubisoft’s stock price soared by more than 30% at that time.
“We believe there are multiple potential ways to create value from Ubisoft’s assets and franchises,” co-founder and CEO Yves Guillemot said Thursday of the company’s strategic plans.
Bloomberg’s report follows Ubisoft’s decision to delay the release of “Assassin’s Creed: Shadows,” the latest game in its popular “Assassin’s Creed” video game series, by three months to February 2025.
On Thursday, Ubisoft delayed the release of Assassin’s Creed: Shadows again, pushing it back to March 20.
Ubisoft’s shares have fallen 45% in the past 12 months as the company’s distribution pipeline for hit games has struggled and the company’s strategic direction has been questioned.
Last year, activist investor AJ Investments called on Ubisoft to sell itself to private equity firms or Tencent. At the time, the investment firm said its campaign had the support of 10% of Ubisoft shareholders.
The game maker has also been criticized for its plans for the new Assassin’s Creed game to include a paid “season pass” that would give players access to bonus missions and additional downloadable content at launch.
Ubisoft has decided to shelve plans for paid features after gamers criticized the decision to adopt a “pay-to-play” model.
Ubisoft is under pressure to prove it can turn things around. On Thursday, the company stepped up its commitment to cost-cutting, saying it expected to reduce annualized costs by more than 200 million euros ($206 million) through 2025-2026 as a whole compared with 2022-2023.
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