UK approves Microsoft’s deal with Activision Blizzard
The UK’s Competition and Markets Authority (CMA) has approved Microsoft’s $68.7 billion deal with Activision Blizzard, reports The Verge.
The British regulator came to this conclusion after the recent restructuring of the deal. In August, it became known that Microsoft would sell the rights to cloud streaming, of Activision Blizzard games to the French company Ubisoft. This decision actually paves the way for the closure of a large-scale merger.
At the same time, the CMA said that the sale of cloud streaming rights must be completed before the deal between Microsoft and Activision Blizzard is finalized.
Microsoft Vice Chairman and President Brad Smith says the company welcomes the decision of the British regulator.
“We have now crossed the final regulatory hurdle to close this acquisition, which we believe will benefit players and the gaming industry worldwide,” he noted.
Activision Blizzard CEO Bobby Kotick sent an email to his employees announcing the news.
“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,” he said. “We’re excited for our next chapter together with Microsoft and the endless possibilities it creates for you and for our players.”
As a reminder, the CMA recently gave its preliminary consent to the merger. After that, negotiations on the final decision began. Later, it became known that Microsoft plans to complete the deal with Activision Blizzard on October 13.