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Report: EA To Sell Off 15 Percent Ubisoft Stake

Report: EA To Sell Off 15 Percent Ubisoft Stake

July 16, 2010 | By Kris Graft

July 16, 2010 | By Kris Graft
More: Console/PC

Electronic Arts will sell off a 15 percent stake in Paris, France-based Prince of Persia publisher Ubisoft, according to financial reports, ending years-long speculation of an acquisition.

A Ubisoft spokesperson told The Wall Street Journal on Friday, "Electronic Arts informed us that it was selling its share in Ubisoft." EA is Ubisoft's largest shareholder.

In 2004, EA said it would purchase around 19.9 percent of Ubisoft's shares, leading to speculation that EA was looking to acquire Ubisoft. At the time, Ubisoft CEO Yves Guillemot called the share purchase "hostile."

Ubisoft's spokesperson added, "This is good news for Ubisoft which regains its independence, although Electronic Arts has always supported our strategy."

Bloomberg Businessweek cited two people close to the deal who valued the sell-off at €94 million ($122 million). EA reportedly sold off all of its remaining Ubisoft shares.

Paris-based analyst Conor O’Shea with Kepler Capital Markets said that the sell-off "opens the door for somebody else to potentially look at Ubisoft." O'Shea speculated that EA rival and Call of Duty publisher Activision could now step in to acquire Ubisoft.

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