Ubisoft cancels projects and announces restructure in fight to stay competitive

Ubisoft, the video games publisher behind the Assassin’s Creed series, has cancelled projects and announced a restructuring that will close several studios as a result of several years of weak results and disappointing sales. Photograph: Ubisoft

The video game publisher behind the Assassin’s Creed series has cancelled six projects including a remake of Prince of Persia: The Sands of Time as it fights to stay competitive in the global gaming market.

Ubisoft announced a sweeping reorganisation and said it would cancel six games, sending its shares to their lowest level in more than a decade on Thursday.