Guillemot’s comments, made during a closed press event whose content the company requested not be made public until an online pitch event on Saturday, came after a tough day for Ubisoft’s stock. , which tumbled 17% after the group announced that Tencent would become its largest shareholder with an 11% aggregate stake.
The operation values the maker of “Assassin’s Creed” around 10 billion dollars.
“We remain totally independent and we can act with any outside company if we want to,” said Mr. Guillemot, who founded Ubisoft in 1986 with his four brothers. “It was a great negotiation with Tencent,” he added. “We can do whatever we want”.
Traders and analysts said the deal with Tencent, which sees the world’s biggest gaming company by revenue enter into a shareholders’ pact with the Guillemots, has removed the speculative appeal of Ubisoft shares.
The group has long been seen as a takeover target, with the Guillemots holding a minority stake in the group. However, the Guillemot brothers managed to fend off a raid by French tycoon Vincent Bollore via his Vivendi media group.
The smallest mobile video game maker Gameloft, formerly headed by Yves Guillemot’s brother Michel, was acquired by Vivendi six years ago.
The secret siblings, sons of agricultural traders from a small town in Brittany, western France, have vowed to protect their independence, a goal Yves Guillemot, 62, reaffirmed on Thursday. “Our first intention is to own our destiny,” he said.
SIGNIFICANT PROGRESS
This outlook has been tested recently by a combination of weak financial results and allegations of sexual harassment, which have led to an overhaul of corporate governance and promises to change a corporate culture described as sexist by many. some former employees.
“Yes, we stumbled, and we recognize it,” Guillemot said. “We have learned a lot along the way and have made significant progress through concrete action plans led collectively by our leaders.”
Ubisoft burned around €200 million in operating cash flow in its 2020/2021 financial year, after generating €169 million in operating cash flow the previous year.
The company’s financial woes were compounded by several delays in releasing new video games and increased pressure on management amid the boom and wave of mergers and acquisitions in the video game industry.
These were notably marked by Microsoft’s plan to acquire the maker of “Call of Duty” Activision Blizzard for 69 billion dollars.
As part of its return to growth plan, Ubisoft aims to roll out its three “pillar” games – “Assassin’s Creed”, “Far Cry” and “Tom Clancy’s Rainbow Six” – on all digital platforms, Guillemot said.
The group wants these three brands to reach a total of 3 billion euros in annual revenue within five years, Guillemot said.
Guillemot has indicated that “Assassin’s Creed” will release its next “Mirage” edition in 2023. Ubisoft is also partnering with streaming platform Netflix to develop three original mobile games, including one based on Assassin’s Creed.