Microsoft receives positive news as the UK’s Competition and Markets Authority (CMA) grants approval for its acquisition of Activision Blizzard. On Friday, October 13, the UK’s CMA officially announced its approval for the deal, with which the final hurdle of the deal has been cleared, which comes across as great news for the gaming industry.
Microsoft faced many hurdles throughout the process of finalizing the Activision deal
On January 18, 2022, Microsoft made an official announcement regarding its acquisition of Activision Blizzard for $68.7 billion, with the completion anticipated by 2023. However, things took an unexpected turn when, just four months later, Activision’s CEO, Bobby Kotick, faced a lawsuit from New York City (NYC) officials over the Microsoft deal.
The lawsuit alleged that the acquisition was rushed to secure a takeover bid from Microsoft in an attempt to evade liability for misconduct within the company. Following these events, on December 8, 2022, the FTC voted to file a legal challenge to prevent Microsoft’s acquisition of Activision Blizzard. However, Microsoft emerged victorious in the lawsuit filed by FTC, and the reports of the tech giant closing in on completing the deal came true after all.
It should also be noted that earlier this year, the UK regulator initially blocked the $68.7 billion deal due to concerns about cloud gaming competition. In August, Microsoft made a significant concession that Ubisoft will acquire Activision’s PC and console cloud gaming rights instead of Microsoft for the next 15 years. As a result of this concession, the CMA conducted a new investigation, which concluded today, with the CMA clearing this revised transaction.
CEO Bobby Kotick expressed his satisfaction on the news. He stated: “We now have all regulatory approvals necessary to close and we look forward to bringing joy and connection to even more players around the world. We’re excited for our next chapter together with Microsoft and the endless possibilities it creates for you and for our players.”
Hopefully, the deal will benefit the mobile gaming industry for more years to come.
What are your thoughts on Microsoft getting UK regulator approval for Activision Blizzard acquisition? Let us know in the comments below!
For more Mobile Gaming news and updates, join our WhatsApp group, Telegram Group, or Discord server. Also, follow us on Google News, Instagram, and Twitter for quick updates.
