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Ubisoft Fighting Vivendi Takeover, Turns to Canadian Investors
Ubisoft is currently fighting a battle with Vivendi who own a share in the company but is now bidding for a takeover, according to a new report.
As reported by The Globe and Mall, media company Vivendi is gunning for a takeover but Ubisoft is trying to fend-it off. The company needs investors and it looking at Canadian personnel.
CEO Yves Guillemot commented on Ubisoft fighting Vivendi and how its defense is based on Canadian investment:
We want to increase the number of Canadian shareholders in Ubisoft to have better control over the capitaL. We feel it’s a good defence.
Vivendi has already confirmed that it has kicked-off a hostile takeover against Gameloft, whose CEO is Michel Guillemot. He is the brother of Yves and co-founder of Ubisoft. Guillemot is behind the success of Ubisoft and turning it into one of the biggest game developers in the world today. However, times are tough and they may end up losing control.
The six Canal Plus channels have been losing money in France for the last four years, said the Vivendi statement. Vivendi cannot on a long-term basis continue to finance the losses of Canal Plus channels in France.
It is being said that the takeover of Gameloft is a larger ploy to acquire majority share in Ubisoft.
There is a lot at stake, over 3000 jobs at Ubisoft jobs in Montreal, Quebec, Toronto and Halifax are at risk.
Ubisoft is yet to share a comment but we will let you know as soon as they explain more about the situation with Vivendi.