Ubisoft is going through a rough patch. Between plummeting stock prices and mediocre game releases, the French developers can't catch a break. It's going to get a whole lot worse as some of its investors are demanding a company restructuring.
Juraj Krupa, founder of Ubisoft's minority owner AJ Investments, sent an open letter to stakeholders, criticizing management and demanding change.
In the letter, Krupa said that Ubisoft is undervalued and has the potential to be priced at $44 - $49 a share. He listed game delays, block of acquisitions, and a deteriorating reputation, among other reasons, as why changes must happen.
Krupa's letter centers on an alleged collaboration between Ubisoft's founders, the Guillemot family, and the Chinese conglomerate Tencent.
To this end, Krupa demanded that Ubisoft be taken private, implement "Cost Reduction and Staff Optimization," focus on core IPs and, crucially, a change in management.
It's important to note that Krupa's firm holds less than a %1 stake in Ubisoft. If his demands aren't met, Krupa will "get together with other minority shareholders who share our views and make a bigger push against Ubisoft management."
While it's been common knowledge within the industry that the Assassin's Creed developer is bleeding...
