Ubisoft is hiring consultants to explore options following the acquisition report

French video game publisher Ubisoft It said Thursday it was appointing advisers to review and pursue strategic options after a report last year indicated majority backers were considering a takeover.

Ubisoft said in a strategy update that “leading advisors” have been appointed to explore “transformational strategic and capital options to extract the best value for stakeholders.”

“This process will be overseen by independent members of the board of directors. Ubisoft will inform the market in accordance with applicable regulations if the transaction is completed,” the company said in a statement late Thursday.

In October, Bloomberg News reported that the Guillemot family, which founded Ubisoft nearly four decades ago, and the Chinese tech giant… Tencent They were thinking about a Potential acquisition of the company. Ubisoft shares rose more than 30% based on the report at the time.

“We are convinced that there are many potential paths to generating value from Ubisoft assets and franchises,” Yves Guillemot, co-founder and CEO, said Thursday, addressing the company’s strategic plan.

The Bloomberg report came after Ubisoft’s decision to delay the release of the latest title in the popular “Assassins Creed” video game series, “Assassin’s Creed Shadows,” for three months, until February 2025.

Ubisoft on Thursday postponed the launch of “Assassin’s Creed Shadows” back to March 20.

Ubisoft shares have fallen 45% in the past 12 months amid problems surrounding a string of blockbuster game launches, as well as… Doubts about the company’s strategic direction.

Last year, activist investor AJ Investments called for Ubisoft to sell itself to private equity or Tencent. At the time, the investment firm said it had the support of 10% of Ubisoft’s shareholder base for its campaign.

The game maker has also received criticism for its plans to include a paid “Season Pass” for its new Assassin’s Creed game, which would have given players access to an additional mission and additional downloadable content at launch.

After players criticized the decision as adopting a “pay-to-play” model, Ubisoft decided to postpone plans for the paid feature.

Ubisoft is under pressure to prove it can turn things around. The company on Thursday doubled its commitment to cutting costs, saying it now expects to cut costs by more than 200 million euros ($206 million) by the full year from 2025 to 2026 compared to the period from 2022 to 2023 on an annual basis.