EIF: Ubisoft wanted to buy Gameloft

Rather than selling its stake in mobile specialist Gameloft, Ubisoft CEO Yves Guillemot has revealed the publisher originally wanted to buy the company.

Ubisoft sold its shares in Gameloft last month after the company knocked back acquisition plans.

"Our intention at first was to actually buy the company but as their business is growing extremely fast they were concerned it was not the right time for them to sell," revealed Guillemot following his keynote speech at the Edinburgh Interactive Festival.

At the time, the publisher stated it would use the money raised from the sale for future growth.

The French company held a 19 per cent stake in the mobile specialist, with Gameloft developing numerous mobile titles based on Ubisoft's IP.