"Nothing has been signed but we are looking at two or three deals with companies whose turnover does not exceed 100 million euros ($118 million). It could be small publishers, studios or even known brands that we would develop," Yves Guillemot told French weekly La Vie Financiere.

Europe's second-largest video games publisher has been the target of intense speculation since Electronic Arts, the world's largest video games maker, bought a near 20 percent stake in December, sparking speculation it could launch a full bid for Ubisoft. Guillemot said relations with Electronics Arts were "normalized" and said contacts were "sporadic."

"Let this be clear: we are not for sale. We think that it's more in Electronic Arts' interest that Ubisoft remains independent and achieves a strong growth of its revenues and earnings," he said. "That said, sector consolidation is inevitable. In these conditions, if a company offers a strategy and a price satisfactory for staff and shareholders, we will look at it."