A minority shareholder in Ubisoft, AJ Investments led by CEO Juraj Krúpa, is organizing a protest outside the company's Paris headquarters. They accuse Ubisoft of failing to disclose alleged discussions with Microsoft, EA, and other publishers interested in acquiring its franchises. Krúpa claims Ubisoft is "horribly mismanaged" and demands a "clear roadmap for recovery" to address declining shareholder value, poor operational execution, and failure to adapt to market trends.

Krúpa alleges that Ubisoft has not been transparent about its decision-making, including a partnership for an Assassin's Creed Mirage DLC with the Saudi investment firm Savvy Group. He also references a restricted article from MergerMarket that mentioned "discussions between Microsoft, EA, and others interested in acquiring IPs from Ubisoft," which he claims was not disclosed to the public.

IGN has sought comment from Ubisoft on these allegations.

In October, Bloomberg reported that Ubisoft's founding Guillemot family and shareholder Tencent were exploring taking the company private amid high-profile flops, game cancellations, and a plummeting share price. Ubisoft stated it would "inform the market if and when appropriate."

Ubisoft has been struggling for years with numerous flops, layoffs, studio closures, and game delays. Rumors suggest that Tencent is hesitant to invest further due to the Guillemot family's desire to retain control, leaving few viable options for Ubisoft's recovery.

Krúpa criticizes Ubisoft's management for multiple delays of Assassin's Creed Shadows, initially set for July 18, 2024, then November 15, 2024, and finally March 20, 2025. These delays led to revised financial guidance and severe stock declines, impacting retail investors while benefiting corporate and institutional investors.

AJ Investments is calling on all frustrated Ubisoft investors to join the protest in May, emphasizing the need for transparency and accountability. They are aware of Ubisoft's ongoing financial review with Goldman Sachs and JP Morgan and hope it will yield positive results. If the review enhances shareholder value, AJ Investments will cancel the demonstration.

Krúpa stresses that shareholders deserve a company that maximizes value and operates transparently. AJ Investments is prepared to sue Ubisoft for misleading investors if necessary.

This is not the first time AJ Investments has voiced dissatisfaction with Ubisoft. In September, they sent an open letter to Ubisoft's board and Tencent, urging a leadership change and considering a sale following the disappointing release of Star Wars Outlaws, which caused a significant drop in Ubisoft's share price.

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