Ubisoft has won another small victory in its fight against media conglomerate Vivendi by buying back 3.625 million of its own shares for $137.9 million (€122.5 million).
Ubisoft has won another small victory in its fight against media conglomerate Vivendi by buying back 3.625 million of its own shares for $137.9 million (€122.5 million).
The French publisher acquired the shares, which represent 3.2 percent of Ubisoft's total capital, from investment bank Bpifrance as part of its share buyback program. The deal will officially close in November.
Company CEO and co-founder Yves Guillemot thanked Bpifrance for its support, and expressed his "warm gratitude" for its help in pushing the deal through.
Guillemot and Ubisoft are currently trying to fend of a takeover attempt from Vivendi, which earlier this year completed the hostile takeover of the Guillemot's mobile studio, Gameloft.
Vivendi has spoken publicly about its desire to unite both Gameloft and Ubisoft under one banner, and currently holds a 22.8 percent stake in the Assassin's Creed creator.
Guillemot for his part has repeatedly knocked back Vivendi, and recently highlighted the dangers of letting a media corporation take control of a game studio.
"[The takeover] threatens the construction and pillars of Ubisoft. The way we manage it is totally different from the way those guys manage companies," said the CEO, speaking to GameSpot during a recent press event in Paris.
"If you're part of a conglomerate that doesn't understand what your industry is, how fast it's moving, or the decisions you have to make at speed, they can limit your possibilities."
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