Ubisoft founders to sell all remaining control in Gameloft to Vivendi

This article is over 8 years old and may contain outdated information

They’re out

Recommended Videos

The Guillemot family, best known as the founders of both Ubisoft and Gameloft, will soon be mostly unaffiliated with the latter. Following a successful hostile takeover of Gameloft by Vivendi, the Guillemots have announced that they plan to completely relinquish any control of the mobile publisher.

As reported by MarketWatch, the Guillemot family says that it is “with regret” that it will sell most of its remaining shares to Vivendi. In a statement, they remarked “The family maintains that Vivendi’s hostile approach goes against the best interest of Gameloft, both for its activity and for its teams.” As of April 4, it was estimated that the Guillemots held 21.7 percent of Gameloft’s capital.

Following the hostile takeover, Vivendi stated its intentions to reappoint a majority of the company’s board of directors at its June 29 annual meeting. Vivendi now owns 56 percent of Gameloft’s voting control, meaning that it can essentially do as it pleases. CEO Michel Guillemot is expected to resign then, as he’d likely be ousted if he didn’t quit. With Michel’s resignation, the Guillemot family will cash out and sever all significant ties to Gameloft.

Of course, this is maybe most significant because it could be a precursor to what may happen to Ubisoft. Vivendi has shown an active interest in the popular publisher and it’s rumored that there’s a possible hostile takeover on the horizon there too. The Guillemots are putting up more of a fight on that front, as they’ve recently propositioned a bunch of Canadian investors who presumably wouldn’t sell their shares to Vivendi. 

Vivendi succeeds in Gameloft takeover [MarketWatch]

Destructoid is supported by our audience. When you purchase through links on our site, we may earn a small affiliate commission. Learn more about our Affiliate Policy
Image of Brett Makedonski
Brett Makedonski
While you laughing, we're passing, passing away. So y'all go rest y'all souls, 'Cause I know I'ma meet you up at the crossroads. Y'all know y'all forever got love from them Bone Thugs baby...