For a number of months it looked like Vivendi taking over Ubisoft was inevitable.
Now, while the saga isn’t over, Vivendi’s hostile takeover efforts have been put on hold. During the company’s recently released quarterly results, Vivendi stated for the next six months it has no intention of attempting to purchase a controlling stake in the video game developer.
Specifically Vivendi says it “will ensure that its interest in Ubisoft will not exceed the threshold of 30 percent through the doubling of its voting rights.” Vivendi also stated that it has no plans to place any of its own representatives on Ubisoft’s board of directors because this is an act Ubisoft’s executive management strongly opposes.
“The current unrealized capital gain on the Ubisoft investment is more than €1 billion,” continued Vivendi in its earnings report. “Given that this sector is the second largest in the content industry after music, the Group confirms its intention to continue to develop in this sector.”
At last count, Vivendi owned almost 77 percent of Ubisoft’s shares, with french law requiring the company to make a formal acquisition offer if that share passes the 30 percent mark.
In a statement, Ubisoft released the following statement:
“”Ubisoft takes note of Vivendi’s statement. We will remain vigilant about their long-term intentions and will continue to pursue our strategy of growth and value creation in the interest of all our shareholders.”
Ubisoft has major Canadian studios in Toronto, Montreal and Quebec City. The developer is behind marquee video game franchises like Assassin’s Creed, Splinter Cell and Ghost Recon, with the studio’s most recently released title being Assassin’s Creed Origins.