Fresh from its hostile takeover of Gameloft, Vivendi turns its hungry eyes towards Ubisoft
French media conglomerate Vivendi has gained control over French game company Gameloft in a hostile takeover finalized this week. Gameloft’s CEO, the brother of Ubisoft’s CEO, has now spoken out about the acquisition and announced he will step down from his role in the company.
Michel Guillemot confirmed in an email sent to Gameloft’s employees that Vivendi has indeed obtained a majority of Gameloft’s shares (a “meager 61 percent,” in his words) in its hostile takeover. He also revealed that he’ll step down as CEO of the mobile game company, but remain in the position until June 29.
“Until that change of management, I remain the president and CEO of Gameloft with full authority; no one else has the right to give you instructions,” said Guillemot. “After that change, I shall not be in the company; a new management with a new strategy will have taken over.”
Of course, all of this drama at Gameloft is really part of a larger ongoing plan by Vivendi to ultimately take over its real target – Ubisoft (both companies were founded by the Guillemot family). As we reported recently, Vivendi has recently been quietly buying up shares of Ubisoft, a move blasted by the Guillemot family as “creeping control” and not welcome.
Ubisoft, headed by Michel’s brother Yves Guillemot, said it would “fight to preserve [its] independence” in light of an “unwelcome” investment from Vivendi. Since then, Vivendi has increased its control of the company, and as of April 2016, it controls an 18% stake.
In February, it was reported by one outlet that Vivendi’s plan was to swallow up Gameloft with the intent to “force talks with the Guillemot family and take over Ubisoft.” Ubisoft’s leadership has since met with investors to prepare for a hostile takeover, vowing to fight it with everything they can. Now, with Gameloft under the Vivendi fold, it appears that Ubisoft had indeed better start preparing for a fight. We will keep you informed of any further developments.