Microsoft completes $69-B takeover of Activision Blizzard

Activision Blizzard will be a wholly owned subsidiary of Microsoft, pursuant to the terms of the agreement and plan of merger as of Jan. 18, 2022, said the SEC filing. (Pexels photo)

ISTANBUL – US-based global tech firm Microsoft has completed the USD69 billion acquisition deal of video game company Activision Blizzard, according to a filing with the US Securities and Exchange Commission (SEC) on Friday.

Activision Blizzard will be a wholly owned subsidiary of Microsoft, pursuant to the terms of the agreement and plan of merger as of Jan. 18, 2022, said the SEC filing.

“I’ve long admired the work of Activision, Blizzard, and King, and the impact they’ve had on gaming, entertainment, and pop culture,” Microsoft Gaming CEO Phil Spencer wrote in a blog post published on Microsoft’s Xbox Wire.

In July, the US approved the acquisition after the Federal Trade Commission applied for a temporary restraining order and preliminary injunction in June seeking to block the acquisition, arguing that the deal would enable Microsoft to suppress competitors against its Xbox gaming consoles, its subscription content and cloud-gaming business.

Spencer, however, soothed such worries in his post and extended an olive branch to other gaming platforms.

“We are intentional about inclusion in everything we do at Xbox – from our team to the products we make and the stories we tell, to the way our players interact and engage as a wider gaming community,” he said.

“Whether you play on Xbox, PlayStation, Nintendo, PC or mobile, you are welcome here – and will remain welcome, even if Xbox isn’t where you play your favorite franchise. Because when everyone plays, we all win. We believe our news today will unlock a world of possibilities for more ways to play,” he added.

The deal was completed after the UK’s Competition and Markets Authority cleared the deal earlier Friday, saying it would “preserve competitive prices and better services.”

“The new deal will stop Microsoft from locking up competition in cloud gaming as this market takes off, preserving competitive prices and services for UK cloud gaming customers,” the watchdog said in a statement.

The European Commission approved the acquisition in May.

Activision Blizzard has popular video game franchises, including Call of Duty, Guitar Hero, Diablo and Warcraft. (Anadolu)