2023-10-14 17:02:15
Microsoft announced the completion of its purchase of Activision Blizzard in a deal worth $69 billion, after a nearly two-year battle with global regulatory authorities that threatened to fail it.
Bloomberg reported that the largest acquisition ever in the video game sector gives Microsoft – the maker of Xbox devices – a stronger position against competitors, as it jumped from fifth place to third place in the world, coming behind Tencent. Holdings and Sony Group.
The acquisition is an amazing turnaround after Microsoft executives reduced the strength and length of antitrust objections, forcing the software giant to seek an extension of the deal’s completion period for a period of 3 months. Microsoft was able to complete the deal after making amendments to the merger agreement, and the US Federal Trade Commission, which lost the attempt to stop the deal in court, continues to take legal measures in its administrative hearing. This may force the two companies to cancel the deal if the committee’s efforts succeed. Today, the Competition and Markets Authority in the United Kingdom announced its approval of the deal after accepting the restructuring plan that includes selling some game rights to the French publishing company, Ubisoft Entertainment.
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