Three Companies, Including Ubisoft, Bid to Buy Microsoft’s Arkane Lyon Studio
Key Facts
Ubisoft and two other gaming companies have submitted offers to buy Arkane Lyon, according to a Bloomberg report published on 3 November and cited by Shacknews. The other two companies have not been identified, and the terms of any potential offers have not been disclosed. The offers concern the studio in the city of Lyon; published information does not indicate that they include all Arkane studios or the broader brand. Microsoft is considering several options for the studio’s future, including a sale to its own management, the report said. The offers put the studio’s future, its employees and its current project on more than one possible path, without meaning that a deal has been completed or that its operations are guaranteed to continue.
Microsoft has said it is continuing to explore different options for Arkane as part of ongoing French consultation procedures. The statement came after a proposal to close the studio raised concerns about the future of around 217 jobs at its Lyon site, according to Le Monde in a report published on 23 October. The company also said it was seeking a partner to support the project’s next development phase and commercial release. On 26 October, Video Games Chronicle reported that Microsoft had extended the consultation period by another month while it considered its options, including finding a partner to support the studio’s remaining development work. These steps tie the pending decision on employees to the studio’s future and its project, but the sources do not say that any option has been decided.
Arkane Lyon is working on Marvel’s Blade, which was announced in December 2023. PC Gamer reported that the game still needs years of development before completion, while Microsoft said it is seeking a partner to support the remaining work. Any change in the studio’s status would therefore affect not only its ownership or management structure, but also which party supports continued development and the game’s release. The report did not provide details on the terms of the offers or any potential buyer’s commitments to the project. The parties involved have also not announced a timeline for a final decision on a sale or partnership.
Ubisoft’s offer comes as the French company faces financial pressure reflected in its results for fiscal year 2025–26. It reported net bookings of 1,525.1 million euros, down 17.4% from the previous fiscal year. In its outlook for fiscal year 2026–27, the company said free cash flow consumption would not exceed 500 million euros. These figures provide financial context on a company named among the bidders, but do not reveal the value of its offer or how it would be financed. Published reports did not say whether the financial results influenced Ubisoft’s decision to make an offer.
Ubisoft forecast a much larger content pipeline in fiscal years 2027–28 and 2028–29, and also expected to return to positive free cash flow in fiscal year 2027–28. The company did not say whether a potential acquisition of Arkane Lyon was part of its plans to meet those forecasts. Meanwhile, a sale to the studio’s management remains an option, according to the report, alongside the offers from gaming companies. Available information does not name the other bidders or provide details comparing them. The studio’s future thus remains dependent on Microsoft’s options under consultations that the company said are still ongoing.
Microsoft shares closed at 520.99 dollars in the 3 November session, according to EL7 data. The figure is the closing price on the day the report on the offers was published; it does not establish that the news caused a share-price move. Available data did not include the stock’s percentage change during the session or a comparison with the previous day’s closing price. The next step directly tied to Arkane Lyon’s future is the continuation of the consultation period, which Microsoft said it extended by another month. The company, according to its statement, is focused on exploring its options and the possibility of finding a partner to support the remaining development work.