Ubisoft’s CEO says company ‘has everything it needs to remain independent’ | VGC
But he reiterates that the board will consider any offers in the interest of shareholders…
Ubisoft CEO Yves Guillemot has commented on recent speculation that the company could be the subject of a takeover bid.
The French publisher, which has delayed a significant number of product launches in the last few years and whose reputation has been tarnished by a workplace misconduct scandal, has become the subject of much speculation in recent months amid a growing trend of consolidation in the games industry.
Last month it was reported that the company behind the Rainbow Six and Far Cry series was attracting takeover interest from several private equity firms, including Blackstone Inc. and KKR & Co.
And last week it was claimed that Ubisoft’s founding Guillemot family was considering teaming up with a private equity firm to acquire the company.
“There has been a lot of talk around consolidation in the industry and in Ubisoft in particular,” CEO Guillemot said during the company’s full-year earnings call on Wednesday (transcribed by VGC).
“Our overall position is clear and well known. As we said last February, we have everything we need to remain independent. We have the talent, the industrial and financial scale, and a large portfolio of powerful IPs to create massive value in the coming years.
“It has provided us with the plan to build strategic partnerships with the biggest players in entertainment and tech. The current speculation is putting in plain sight the real appeal and value of our assets and of our value creation potential.
“As mentioned before, as a public listed company, it is best practice for our board to review any offer in the interest of all shareholders and of our great teams.”
Guillemot said he wouldn’t be making any further comment on the subject during the remainder of the call.
M&A activity in the games industry hit a record $85 billion in 2021 and has been forecast to reach $150 billion this year, with huge deals such as Microsoft’s acquisition of Activision Blizzard and Take-Two’s buyout of Zynga having already been announced in 2022.
During today’s earnings call, Ubisoft also provided an update on its product release slate, including premium games Avatar: Frontiers of Pandora, Mario + Rabbids: Sparks of Hope and Skull & Bones.