Bloomberg's Jason Schreier reported that Ubisoft is part of a shortlist of at least three companies seeking to acquire Arkane Lyon from ZeniMax, with Xbox evaluating options ahead of a December 13 consultation deadline.
The report noted that Ubisoft's potential acquisition of Arkane would mark a reunion, as the publisher previously released Arkane's 2006 game Dark Messiah of Might and Magic before ZeniMax's acquisition of the studio.
Ubisoft's bid comes as the company faces its own challenges, including multiple layoffs in 2026, while Arkane's Marvel's Blade game remains in development during the consultation process under French labor law.