Articles About Images Videos

Gaming News

All the gaming news not concerning an individual game but rather inform about gaming in general. read more

8.1

Ubisoft maintains its independence from Vivendi

Author: David Lozada
30-Sep-2016

Category: News

Media conglomerate Vivendi unexpectedly chose not to nominate its own people to fill two openings on the Ubisoft board of directors yesterday, instead allowing the Guillemot brothers to be reelected to the board. Though this does spell good news for the game publisher, the fight is still far from over.

Ubisoft maintains its independence from Vivendi
Media conglomerate Vivendi, which has been moving toward acquiring a controlling interest in video game publisher Ubisoft in recent years, unexpectedly chose not to nominate its own people to fill two openings on the Ubisoft board of directors yesterday, allowing the home of Rayman, Assassin's Creed, and Watch Dogs to appoint the independent directors it nominated back in June.

"The shareholders expressed massive support for the strategy and the management of Ubisoft, approving all the ordinary resolutions submitted at the AGM [Annual General Meeting]," the company said in a press release.


According to CNBC, Vivendi made no proposals during the meeting, nor did any of its representatives speak during the Q&A session. However, it also abstained from voting on resolutions "related to employee stock grants and options," which prevented them from passing. Ubisoft described the abstentions as "systematic obstruction, impeding the proper functioning of the company, in particular regarding its competitive compensation policy for its talents."

Though surprising that Vivendi didn't try to force the matter at the AGM, it's also unlikely that the company will stop here. The Guillemots, who were reelected to the board during this meeting, recently purchased three percent of Ubisoft's stock from French investment bank Bpifrance, but Vivendi, which now holds 23 percent of the company's shares, remains in a dominant position. It may now be looking ahead to a more hostile takeover attempt, similar to its forced acquisition of the formerly Guillemot-owned mobile publisher Gameloft earlier this year.


Ubisoft is working hard to avoid the same fate, expanding the board with directors of its own choosing and presumably making it more difficult for Vivendi to assume control. And while this doesn't really count for anything in a boardroom, the publisher also appears to be working hard to improve its credibility with gamers, most notably by saying that it won't bring back Assassin's Creed and Far Cry in 2017 if they're not properly ready. 

Source:
https://www.ubisoftgroup.com/comsite_common/en-US/images/pressrelease_downloadablemm_20160929_052711_r%C3%A9sultatsag2016_eng_tcm99-269320_tcm99-196733-32.pdf
http://www.cnbc.com/2016/09/29/game-maker-ubisoft-fends-off-vivendi-takeover-for-now.html
https://www.ubisoftgroup.com/comsite_common/en-US/images/pressrelease_downloadablemm_20160906_124946_guillemotbrothersagreementengfinal_tcm99-266404_tcm99-196733-32.pdf
Rate this article
- 0 - 0

Comments



Back

Other articles

20-Feb-2017

File Sizes For Several Switch Games Revealed

author: David Lozada
category:

File sizes for several upcoming Nintendo Switch games, including Mario Kart 8 Deluxe, I Am Setsuna, and Dragon Quest Heroes I-II, were revealed...

1 0
0
16-Feb-2017

10 New games to turn up your February 2017

author: Luisa Amendola
category:

It's the second month of the year already and if you haven't found any good game to play until now, don't worry; this problem ends right now. See the...

0 0
0
16-Feb-2017

Japanese Developers Reveal Interest On Switch In New Survey

author: David Lozada
category:

Weekly Famitsu magazine conducted a survey among 24 Japanese game developers with regards to the rapidly approaching Nintendo Switch and gauged on...

1 0
0
15-Feb-2017

Valve Replacing Steam Greenlit with Steam Direct

author: Ritwik Mitra
category:

The current system of releasing games on Steam, called Steam Greenlit is soon to be replaced by an admission fee-based structure touted as Steam...

1 0
1
15-Feb-2017

Esports revenues expected to double by 2020

author: Seth Christmus
category:

The future of esports is brighter (and greener) than some might have imagined. In a new report from Newzoo, the money made from the young sport is...

1 0
0
13-Feb-2017

GTA 4 Is Now Backwards-Compatible With Xbox One

author: Ritwik Mitra
category:

Grand Theft Auto IV was an important title in the franchise, and now it's deservedly joining the patented Xbox Backwards Compatibility group.

0 0
0
10-Feb-2017

Call of Duty to "Return to Roots"; Activision Talks Passion

author: David Lozada
category:

Activision revealed new information about the newest Call of Duty game during the publisher's financial conference call for 2016 today, as well as...

1 0
1
08-Feb-2017

Fallout Shelter now available for Xbox One and Windows 10

author: Dmytro Voloshyn
category:

The massively popular Fallout Shelter from Bethesda Game Studios, the award-winning creators of Fallout 4 and Skyrim Special Edition, has expanded...

1 0
0