Ubisoft has reacted with a level of caution few predicted to yesterday’s news which saw uber-publisher Electronic Arts buy almost 20% of the French outfit.
In a deal inked with Talpa Beheer BV late last week, EA now represents Ubisoft’s majority stakeholder. In a cautionary and seemingly off the record statement to the financial press, an unnamed Ubisoft spokesperson admitted that the company views EA’s surprise purchase as hostile.
However it was claimed that the possibility of dealing with EA as a partner had not been ruled out, a disclaimer smacking of rhetoric given that Ubi will have little choice in the matter.
It was thought yesterday that Ubisoft has been given a certain level of transparency on the emerging deal between EA and TBBV. This appears not to have been the case.
And Ubisoft might well worry. After EA, the next biggest shareholder in the firm is the Guillemot family, holding around 15%. Next is Caisse des Dépôts et Consignations with just under 6%. The point is that a whopping 69% of Ubi Soft is publicly traded and may be bought by EA at any time.
SPOnG estimates that an investment of around a further $160 million would push Electronic Arts’ stake over 50% effectively giving the US giant complete control.
However, it is thought that a buy-back program may well be on the cards. The French games industry, fiercely independent, has always been able to muster cash from private or government sources in times of crisis.