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Vivendi succeeds in hostile Gameloft takeover

Vivendi succeeds in hostile Gameloft takeover

June 1, 2016 | By Chris Kerr




Last week it was reported that NOVA and Asphalt developer Gameloft was losing its battle against French media conglomerate, Vivendi, which has been attempting to force a hostile takeover for months. 

Now, it seems the mobile studio's fate is all but sealed, with Vivendi today releasing a letter to Gameloft employees explaining they will "shortly" be joining the international media group. 

Vivendi has been gunning for Gameloft and Ubisoft -- both of which are owned by the Guillemot family -- for some time, but recently made the former the focus of its attentions. 

In February, Vivendi purchased over 30 percent of Gameloft's stock; a move that allowed the company to table a mandatory takeover bid. Yet despite the bid itself being mandatory, other shareholders were under no pressure to sell. 

Still, everyone has their price, and according to reports Vivendi last week convinced a number of shareholders to sell their stock for an inflated price of 8 euros per share.

The media group also reportedly gained the backing of Amber Capital, which holds a sizeable 14.6 percent stake in the Modern Combat developer.

Today's letter all but confirms those rumblings, and means the French multinational has decided to ignore the pleas of Gameloft's outspoken hierarchy, who repeatedly rallied against the move

"You will join shortly an international content and media group where creativity is the heart of its organization and its activities. We are very pleased to welcome you and to pool your talents with ours, so that together, we will be a stronger presence on the worldwide entertainment market," reads the letter.

"In a buoyant digital environment that favors convergence between creative industries, the joining of Vivendi and Gameloft offers opportunities for cooperation in many areas: the co-creation of content, the development of new franchises, the building of wider communities and audiences and the pooling of our distribution networks, among other examples."

With the Gameloft takeover seemingly in the bag, it's likely Vivendi will turn its attentions towards Ubisoft. 

Last year, the group outlined its vision to unite both firms under the Vivendi banner, and recently backed up those words by picking up a 17.7 percent stake in the Assassin's Creed developer. 

Much like Gameloft, Ubisoft are keen to remain independent, with company CEO Yves Guillemot calling the takeover attempts "unsolicited and unwelcome."

You can read Vivendi's full letter to Gameloft employees right here



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