14 DAY TRIAL // Ubisoft has announced that it has recently sold the shares it owned in Gameloft. Calyon is the company which will have from now on rights over these shares.
The sale price was settled at 6.08 euros, on the 12th of July. The transfer implies an agreement more complicated than it is at first sight. As part of the deal, Calyon must sell these shares again in the next two years. The difference between this price that they have just been bought for and that after changes occur in the price will be assigned exclusively to Ubisoft.
"The video game market offers numerous internal and external growth opportunities. We have therefore decided to sell our stake in Gameloft in order to focus on Ubisoft's expansion and strengthen our ability to seize all such growth opportunities. Following this sale Ubisoft and Gameloft will continue their productive collaboration at a purely operational level, particularly concerning the utilization of Ubisoft's brands on mobile phones", said Yves Guillemot, chief executive officer of Ubisoft.
"We opted for an equity swap solution as we are confident in Gameloft's capacity for growth. Selecting this approach enables us to inform the market of our exit strategy and to stagger the market placement of the Gameloft shares in order to continue to benefit from the company's development potential over the next two years", commented on the deal Alain Martinez, chief financial officer of Ubisoft.
When Calyon will sell the Gameloft shares on the market again, Ubisoft will have to considerably gain from this action if business results are favorable. Ubisoft is one of the most important producers, publishers and distributors of entertainment solutions at a worldwide level. The company currently has offices in more than 20 countries and sells its products in 50 countries at a world scale.