Ubisoft eyes studio acquisitions

Ubisoft chairman Yves Guillemot has said that the company is on the look out for possible acquisitions, although the publisher wants to stay cash positive.

During a conference on the group's recent financial results, chief financial officer Alain Martinez told Reuters that it was currently considering two or three opportunities with development studios, with a price range between 1 million and 20 million euros.

"The idea is to stay cash positive, but we remain on the lookout for acquisition opportunities," said Guillemot.

Yesterday, the company revealed profits for the last financial year of EUR 40.5 million, a 70 per cent increase over the previous year.

Following the results, analyst Michael Pachter stated that he believes the French company is undervalued and expects the publisher to grow faster than the rest of the market.