Ubisoft 2008 Annual Report Download - page 135

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UBISOFT ANNUAL REPORT 2009
fI n a n c I a l s t a t e m e n t s 02
• February 2009: Acquisition of the video game developer Action Pants Inc. in Vancouver, Canada
This new studio employs Ubisoft's rst in-house creation team on the North American west coast. The studio is wholly owned by
Ubisoft Entertainment SA.
Goodwill amounts to CAD 0.5 million (€0.3 million at closing exchange rate). Measurement of fair values on the date ownership was
transferred did not result in any adjustments. The following assets and liabilities were included on the date when the company was
consolidated (in € million):
03.31.09
Net assets and liabilities acquired 0.7
Elimination of internal margin -1.0
Goodwill 0.3
Consideration paid in cash 0.0
Cash acquired 1.0
• Studio openings:
April 2008: opening of a studio in Kiev, Ukraine. This studio should be employing around 50 staff in the next 12 months. It is wholly
owned by Ubisoft Entertainment SA.
April 2008: creation of the Ubisoft Marketing France SARL studio in France.
October 2008: creation of the Ubisoft Production Internationale SARL studio.
January 2009: creation of the Ubisoft Market Research SARL studio.
February 2009: creation of the Ubisoft Gameplay SARL and Ubisoft Arts SARL studios.
• June 2008 - Reopening of the Brazilian subsidiary
Reactivation of the previously dormant Brazil subsidiary, and change in activity from distribution to development studio.
2.1.5.4 Declaration of conformity
The consolidated nancial statements for the year ended March 31, 2009 have been prepared in accordance with the International
Financial Reporting Standards (IFRS) applicable at March 31, 2009, as adopted by the European Union.
Only the standards approved by the European Commission and published in its ofcial journal before March 31, 2009, and whose
application was mandatory as of April 1, 2008, have been applied by the Group to the consolidated nancial statements for the year
ended March 31, 2009. No standard or interpretation whose application has become mandatory since March 31, 2009 has been
applied early to the consolidated nancial statements for the year ended March 31, 2009.
The IFRS standards as adopted by the European Union differ in some ways from the IFRS standards published by the IASB. However,
the Group has made sure that the nancial information presented would not have been substantively different if it had applied IFRS
standards as published by the IASB.