«Assassin’s Creed Shadows» is delayed again – will Ubisoft be on the market soon?

French games giant Ubisoft has been in trouble for a while now. In the last few months, rumours have been circulating that Chinese group Tencent will take over the company.

And now there’s another setback – the long awaited «Assassin’s Creed Shadows» will be postponed again – to 20 March 2025. Ubisoft also stated in a press release that it’s considering various options for the future of the company. If a «transaction» were to take place, we’d hear straightaway.

Flashback: several disappointing releases put Ubisoft in troubled waters

Like many other tech companies, Ubisoft has had to lay off many employees in recent years. In February 2024, the frequently postponed triple-A title Skull and Bones didn’t bring the hoped-for financial success either.

In May, Ubisoft set out strategic streamlining: the company wanted to focus on games that guarantee a secure cash flow and discontinue developing other games. Ubisoft now wants to focus primarily on games-as-a-service titles such as XDefiant and Rainbow Six as well as open-world games such as the Assassin’s Creed series. The latest instalment of which, Shadows, should be released in November.

However, the release of the multiplayer shooter XDefiant didn’t bring the player numbers they wished for either. Last December, Ubisoft announced that the game would be discontinued and three Ubisoft studios closed. Open-world title Star Wars: Outlaws, which was released in August, also failed to win over enough players.

Why Assassin’s Creed Shadows is so important

Ubisoft is now under pressure with Assassin’s Creed Shadows – after many failed attempts, the game has to run now. But even here the signs aren’t looking promising. After the first images were published, the depiction of the historical setting – Japan in the feudal era – was strongly criticised. However, Ubisoft can’t afford a dissatisfied player base.

The game was originally due to be released in November 2024 but, in September, Ubisoft got cold feet. The release was then postponed to 14 February 2025 so they could «improve the gaming experience». Until then, Assassin’s Creed games had always been released on time.

The delays and the company’s statement that its financial expectations hadn’t been met caused the share price to fall to its lowest level in 15 years. This was when the rumours started about Tencent buying the company. Apparently, there have been some initial vague conversations. But Ubisoft has kept quiet on the subject.

Tencent is the largest Chinese internet group and one of the most valuable companies in the world. It already purchased around ten per cent of Ubisoft shares in 2018.

Ubisoft has started «drawing up plans»

Assassin’s Creed Shadows has now been postponed again, just one month before the previously announced release date in February. According to the press release, they want to do more fine-tuning and implement feedback from the community.

At the same time, on 9 January, Ubisoft announced further restructuring of the company – this is ongoing. They said «leading consultants have been commissioned to examine various strategic and capitalistic options in order to achieve the best possible value for the stakeholders». And: «In the event of a sales transaction, Ubisoft will report on this immediately». This will be followed by further information on operational changes: the company aims to save 200 million euros in fixed costs annually in the years 2025-2026.

In a conference call scheduled at short notice, Yves Guillemot (CEO) and Frederick Duguet (Chief Financial Operator) had to answer unpleasant questions from stakeholders. This included what they meant by the vague statements of a «transaction» in the context of the Tencent takeover rumours. But Duguet’s answer was just as vague, pointing out that he couldn’t provide any concrete information. In response to a further question about the «options» in the room, he replied that Ubisoft had started «drawing up plans» – short pause – «with consultants».

Only a few days ago, potential buyer Tencent was added to the US government’s list of companies that cooperate with the Chinese military. US companies aren’t allowed to do business with the companies on this list. Tencent has challenged this. In the call, the two Ubisoft representatives were asked whether this development could prevent Tencent from becoming the majority shareholder in Ubisoft. However, the question remained unanswered, as did the question of how many triple-A games Ubisoft intends to release in the 2025 fiscal year.

The future of Ubisoft therefore remains unclear, but there are increasing suspicions of a radical change in the near future.