Vivendi is currently on a huge shopping spree and has successfully seized control of Gameloft, one of the biggest mobile game developers. And it seems that next on their list is Ubisoft.
The Paris-based media conglomerate has been aggressively targeting shares from both Gameloft and Ubisoft for the past months in an attempt for a hostile takeover. Using the tried-and-true method of offering “a lot of money”, Vivendi managed to purchase enough stocks from investors of Gameloft to achieve majority ownership.
After the acquisition, Vivendi released a letter to Gameloft stating that they will “join an international content and media group where creativity is the heart of its organization and its activities,” states Vivendi. “We are very pleased to welcome you and pool your talents with ours, so that together, we will be a stronger presence on the worldwide entertainment market.”
Gameloft and Ubisoft are run by the Guillemot brothers and are very much against the hostile takeover that Vivendi is attempting for Ubisoft, in which they currently hold 17% of the publisher’s shares. Ubisoft has been approaching Canadian investors to commit to a long-term investment to avoid having shareholders being bought by Vivendi.
Source: Bloomberg
