Ubisoft is reportedly among several gaming companies seeking to acquire Arkane Lyon, the Microsoft-owned developer behind Dishonored, Deathloop and the upcoming Marvel’s Blade. At least three companies have submitted acquisition offers, while Microsoft has also considered selling the French studio to its own management team.
The details come from a November 3, 2026, Bloomberg report by journalist Jason Schreier, citing people familiar with the private negotiations. According to the report, Ubisoft Entertainment SA has made an offer alongside at least two other gaming companies whose identities have not been disclosed.
The competing proposals represent a significant development in Microsoft’s efforts to find a new owner for Arkane Lyon. However, no acquisition agreement has been announced, and neither Microsoft nor Ubisoft has publicly confirmed the reported bids.
The potential sale follows Microsoft’s decision earlier this year to divest Arkane Lyon amid a broader restructuring of its Xbox gaming business. The studio’s future has remained uncertain since July, with approximately 217 employees potentially affected if a takeover cannot be arranged.
In October, Microsoft extended Arkane Lyon's consultation period by one month, moving the deadline from November 13 to December 13, 2026. The extension provided additional time to explore alternatives to closure, including finding another company willing to support the studio’s ongoing development work.
A Microsoft representative previously confirmed that the company was exploring options to secure a partner for the remaining development of Marvel’s Blade. The newly reported acquisition offers suggest that several potential buyers are now involved in that process, although the status and terms of their respective proposals remain unknown.
Ubisoft’s reported involvement is particularly notable because the French publisher has previously worked with Arkane. Ubisoft published Dark Messiah of Might and Magic, the 2006 first-person action RPG developed by Arkane Studios.
Nevertheless, a successful Ubisoft acquisition would not automatically establish what projects Arkane Lyon might develop afterward. Bloomberg’s reported negotiations do not confirm whether any proposed purchase would include Microsoft’s existing intellectual property, future publishing arrangements or particular development commitments.
The immediate concern for players is Marvel’s Blade, the single-player action-adventure game announced at The Game Awards in December 2023. Set in Paris and based on Marvel’s vampire-hunting superhero, the project remains one of Arkane Lyon’s most anticipated upcoming releases.
The game’s future became uncertain after Microsoft began exploring a sale or potential closure of the studio. Although development has continued during the consultation process, Microsoft has not announced a release date or confirmed how a change of ownership would affect the project’s publishing arrangements.
Bloomberg’s report indicates that a potential acquisition could provide a path for Arkane Lyon to continue its work on Marvel’s Blade. However, the existence of competing bids does not guarantee that a transaction will be completed or that the game’s development schedule will remain unchanged.
The possibility of a management-led acquisition also introduces an alternative to ownership by another established publisher. Such an arrangement could allow Arkane Lyon to operate under a different corporate structure, although no financing details, proposed ownership terms or agreements have been disclosed.
Microsoft’s extended consultation period is currently scheduled to conclude on December 13. Until a buyer is selected or another arrangement is formally announced, Arkane Lyon’s ownership, its employees’ future and the release of Marvel’s Blade remain unresolved.
