Ubisoft appoints consultants to explore options following acquisition report

French video game publisher Ubisoft said Thursday it is appointing advisers to review and explore strategic options after a report last year suggested most of its backers were considering a buyout.

Ubisoft said in a strategic update that they have hired “senior advisors” to “deliver transformative strategic and capitalistic opportunities to extract the best value for stakeholders.”

“This process will be overseen by independent members of the Board of Directors. Ubisoft will notify the market in accordance with applicable regulations if and when a transaction is implemented,” the company said late Thursday.

In October, Bloomberg News reported that Ubisoft was founded by the Guillemot family and the Chinese tech giant nearly four decades ago. Tencent were considering a potential ownership of the company. Ubisoft’s shares jumped more than 30% at the time of the report.

“We are confident that there are many ways to create value from Ubisoft’s assets and franchises,” co-founder and CEO Yves Guillemot said Thursday of the company’s strategic plan.

Bloomberg reports that Ubisoft has decided to delay the release of the latest title in its popular “Assassins Creed” video game series by three months, “Assassin’s Creed Shadows” until 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 amid problems surrounding the marketing of its blockbuster titles. doubts about the company’s strategic direction.

Last year, activist investor AJ Investments called on Ubisoft to sell itself to private equity or Tencent. At the time, the investment firm said it had secured the support of 10% of Ubisoft’s shareholders for its campaign.

The game maker also faced criticism for plans to include a paid “Season Pass” for its new Assassin’s Creed game, which would have given players access to a bonus quest at launch and additional downloadable content.

As a result of the decision by players to adopt the “pay-to-play” model, Ubisoft decided to scrap plans for a paid feature.

Ubisoft is under pressure to prove it can turn things around. On Thursday, the company doubled down on its commitment to cutting costs, saying it now expects to achieve a reduction of more than 200 million euros ($206 million) for the full year from 2025 to 2026.