Topher
Identifies as young
Who in the world thought that?
Ubisoft Carves Out Top Games Unit - Valuation of €4 bln, Tencent to get 25% stake, manages 3 big IPs (Assassin's Creed, Far Cry and Rainbow Six)
Who in the world thought that?
lifa-cobex
Member
Topher
Identifies as young
Unknown Soldier
Member
Multiple people here on GAF.....
Topher
Identifies as young
Such as?
Hardensoul
Member
Employees holding Ubisoft shares getting fucked!
Sadly layoff is incoming, and slowly but surely Tencent will take over the company. They are just taking it phase by phase so it will not be drastic. 25% percent now, but it will grow bigger and finally a full take over 100%. I never like state run China companies especially I hate communist but for me, the bright side is possible end to woke agenda pertaining to twisted gender ideology in Ubisoft games like for example binary characters, misuse of pronouns and same sex romance.
Twinequinox
Neo Member
I don't really care about this take over one way or another, but I was watching a video about this whole shitshow and saw a comment that cracks me up. something along the line of "Ubisoft should just accept not owning their company." and that just cracked me the hell up.
Ubisoft will own nothing and be happy.
Edit: I take that back. Ubisoft will own nothing except debt, and won't be very happy.
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Sharius
Member
just learn out that they require to buy company stock and hold on it for 5 years in order to work in company
bighugeguns
Member
This all seems incredibly illegal.
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Sharius
Member
it's probly big deal the day ubisoft still make good game, it's a scam now
Topher
Identifies as young
Eh.....think they better be more worried about keeping their jobs than what their stock is doing.
Heart_Attack
Member
Even with Tencent owning Assassins Creed, or Far Cry, i don't think they can get good talented developers to make a truly great AAA game.
IAmAnAgnostic
Member
This is actually quite deviously set up, I knew Tencent would want to swoop in to buy what remains of Ubisoft, but I also knew they wouldn't want to touch the vast majority of the company. I thought they'd wait post massive layoffs so that the incredibly inefficient and bulky Ubisoft studios become a fraction of their current size and then they buy what remains for exactly these IPs.
No, why wait, since apparently you can legally just carve the IPs to their special corner with far a few devs and buy a stake into that corner, completely bypassing the upcoming huge layoffs everywhere else!
And yes, if I was a dev working in Ubisoft anywhere except that special corner, I'd genuinely be looking for replacement work ASAP.
No, why wait, since apparently you can legally just carve the IPs to their special corner with far a few devs and buy a stake into that corner, completely bypassing the upcoming huge layoffs everywhere else!
And yes, if I was a dev working in Ubisoft anywhere except that special corner, I'd genuinely be looking for replacement work ASAP.
Unknown Soldier
Member
adamsapple
Or is it just one of Phil's balls in my throat?
I don't think you're gonna get an answer to that, he's already moved onto the next twitter meme
Unknown Soldier
Member
I see....I don't think you're gonna get an answer to that, he's already moved onto the next twitter meme
Topher
Identifies as young
That's not saying "all is well" with Ubisoft.
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Kings Field
Member
lifa-cobex
Member
.
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Topher
Identifies as young
I'm not getting how Ubisoft employees are getting screwed here. The new subsidiary is still a part of Ubisoft so how does it affect their stock?
PeteBull
Member
PeteBull
Member
0 sold copies nor revenue announcements and no more players announcements after 3m either, on top they took crown jewels ip's out of ubi too, to say it gently:
The stock of Ubisoft is now being obliterated, dropped almost 18% today.
Because insane woke fanatics declared war on normal people and values, usurped and ruined almost every popular Western media franchise as weapons for waging that war, and it's satisfying when it fails and backfires.
Kacho
Gold Member
Yep, I'm fine watching western studios get their teeth kicked in. Drop GAAS, drop woke slop, bring back Splinter Cell, etc.
Google shows it's down 85.02% in the last 5 years.
The stock of Ubisoft is now being obliterated, dropped almost 18% today.
Angry_Megalodon
Member
Why this drop? Wasn't AC Shadows Ubisoft's return to form?
adamsapple
Or is it just one of Phil's balls in my throat?
Ubisoft: *Puts a black protagonist in the game, based off a real person that existed in Japan*
You: “the insane fanatics have declared war!”
Kacho
Gold Member
Angry_Megalodon
Member
This isn't the issue and you know it.
AC Shadows aside, there are many reasons to hate the current Ubisoft. This is a company that publicly says that consumers should be happy about owning nothing, a company that has the nerve to preach others while being sued for multiple sexual harassment cases. Also, a company that kicks out the original creator of the Assassins Creed saga, steals his work and gives it to some pretenders who sink its quality.
As a creator myself, this last point is enough to wish Ubisoft's demise.
adamsapple
Or is it just one of Phil's balls in my throat?
Culture wars are the new Platform wars.
PeteBull
Member
Stop trolling and quote whole sentece, bro, i saw how genuine u are in the AC:S sales bomb in japan topic already
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Topher
Identifies as young
Steals his work? AC has always been owned by Ubisoft. Anything any employee makes for a company is owned by that company. This is not new. As for the rest, the moment folks started hating Ubisoft on a large scale is when the Yasuke was leaked. Let's not pretend Yasuke isn't "the issue". He absolutely is.
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Zacfoldor
Member
IMHO, the final shoe to drop will be that AC Shadows significantly underperformed expectations.
The stock of Ubisoft is now being obliterated, dropped almost 18% today.
I would expect that they would have projected growth in the IP and instead it appears to have contracted a little.
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You hear people say it's 'in line with expectations' as though that necessarily makes it ok. It might be in line with their recent expectations (where they could factor in the backlash or preorder numbers or whatever), but if they embarked on this project already with the expectation that AC Japan would be less successful than Valhalla, they should have been aiming higher.
As for Yasuke causing the Ubisoft hate - I think there's an element of it being the straw that broke the camel's back. I saw Yasuke protagonist predicted/joked about on another forum before it was known about, as that would be the most Ubisoft thing they could do.
As for Yasuke causing the Ubisoft hate - I think there's an element of it being the straw that broke the camel's back. I saw Yasuke protagonist predicted/joked about on another forum before it was known about, as that would be the most Ubisoft thing they could do.
Kacho
Gold Member
It is definitely the straw the broke the camels back for Ubi. I remember reading Far Cry 6 reviews on Xbox back in 2021 and it was full of 'woke trash' comments. This has been building for a while.
Very curious to see the reception to AssCreed Hex if that ends up dropping next year. That's yet another mainline game with a female lead according to rumors. That would make it the fourth game in a row (excluding spinoffs and remakes).
Angry_Megalodon
Member
Legal doesn't mean ethical. Again, for a company with such high moral standards, they don't walk the talk.
The general opinion about Ubisoft has been bad since 2016 or so. Many people got fed up with their bloated games, the cultural war angle is more recent and just added fuel to an ongoing fire. If Yasuke never existed, Ubisoft would hardly be in a better position than is today.
PeteBull
Member
Maybe, just maybe AC:S would make 30% more revenue, since we know AC:V made 1b usd, lets just say AC:S makes 500m total when all is said and done, with 3rd protag ubi had potential to get that 30% so 150m usd more, was it worth it to push agenda instead of making those additional 150m usd- according to ubi it was, according to any person that thinks logically(so not a leftists/activist/woke rainbow forum user and such
it definitely wasnt =D
Topher
Identifies as young
Who are you talking about as far as the "creator" of AC?
yurinka
Member
Well, the tweet lies.
I don't remember the exact conditions (I worked there many years ago, and got stocks) but at least back then stocks were just part of the bonuses and everything was completely legal. They didn't sell them cheaper than in market value, they offered to buy you a certain amount of stocks at a minimum price higher than the market value during X years if you didn't leave the company.
Meaning, maybe they could offer you to buy from you 1000 stocks at minimum 15€ (at market price if their market value got higher) up to 5 years later -if you stayed in the company- when their market price at the time of the bonus was 10€. So encouraged you to stay in the company and help to push the value above that minimum. Or if desired -as I did every time I could- just sell the stocks to them at the moment of the bonus and get that minimum profit in cash.
Devs have bonuses every year, stocks are only part of them. There are bonuses in cash separated from the stocks regarding personal/project specific/studio/company performance (different ones per each thing). Depending on your job position you got more or less of one or another, and the one regarding the project depends on your role, rank and amount of time spent of the project (example: a junior artist who stayed there there whole project gets the full bonus, while a junior artist that only worked during half of the project only gets a portion of the bonus). And a lead artist gets more than a junior artist etc.
Some year your personal bonuses could be better, other years the company ones could be better, other ones the project you worked on could be better, etc. It varied but not much. I assume the company related ones should be low or nonexistant in recent years, because each one of these bonuses were proportional to performance, and for each bonus if a certain minimum performance was met you didn't get that specific bonus for that time.
AC Shadows so far had the 2nd best launch they ever had for the series (their best selling, top grossing series), it isn't underperforming at all. Specially considering that the top 1 was released in November and during the covid peak.
The stock value is not representative at all of the performance of the game and the real value of the company, as seen in the valuation of the subsidiary (4B) that groups only a small portion of the company (in total valued in the market around 2B).
Their revenue has a good long term growth pattern, and with the costs reductions they've been making in recent times they'll improve their profitability. Plus with the help they got from the subsidiary move, plus similar ones they can do maybe creating other subsidiaries for other IPs and selling a minority to Tencent or somebody else (MS, Sony, etc) they could get rid of the debt they have soon.
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Topher
Identifies as young
I’m still trying to figure out how IP transferring to a subsidiary within the same company devalues employee stock.
DeltaPolarBear
Member
The assumption is that it is in preparation of being separated.
Now any employee still holding shares at the time of spinoff would hold stock in both halves of the company. However, I assume afterwards you would be paid in stock for which ever half of the company you are physically working for. That might mean a massive paycut for many people not working for the more valuable half of the company.
yurinka
Member
As far as I know, or the day to day job it doesn't change anything for them. For them it's like 'hey, these studios/IPs are now under this division/business unit group'.
Tencent has no intention to control Ubisoft and can't control it, or the subsidary (only got a 25% of it and as I remember 10% of Ubi). In fact they supported the Guillemots to help them get more control of the company.
For the company, means that these 3 important IPs are more protected from stock trolls who artificially take the company stock value down, by valuating and selling parts of it in a 'private' way. And that got over a billion that will help them to pay debt or for whatever else they need/want.
So if something, it's positive for the workers and the company. It's only bad for the stock trolls, specially if Ubi continues making 'private' other portions of the company and finally turn it totally private.
Nah, companies make subsidiaries, divisions or business units from time to time. Doesn't mean they'll separate or sell that part.
As an example: Sony did split SIE into two business units: Studios Business Group and Platform Business Group. It's just a different way to organize it. And in case of creating a subsidiary, a new way of getting more value from it, since that allows them to sell minority stakes to select partners/investors without being affected by the stock value.
The valuation of the subsidiary highlights that the whole company is highly undervaluated in the stock market. Because that subsidiary is valuated in twice the market value of the whole company. So -if something- the workers in that subsidiary now are recognized that their value is higher than the one they were recognized by the market. It doesn't say anything about the other ones, and shouldn't affect them at all. If you ask me, Ubisoft could group the rest of the company into 2 or 3 subsidiaries more also valued in a few billions each.
Looking at their revenue, amount of huge IPs, studios and workers the market valuation of the company is a joke, it's severely undervaluated.
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