Taylor Soper
2023-10-13 02:16:33
www.geekwire.com
After nearly three years since the deal was first announced, Microsoft is finally set to purchase Activision Blizzard as the UK’s Competition and Markets Authority (CMA) approved the acquisition late Thursday.
UK antitrust regulators previously sought to block Microsoft’s $68.7 billion acquisition of the Call of Duty maker. Microsoft responded by agreeing to sell Activision Blizzard’s cloud gaming rights to Ubisoft.
The companies originally set a deadline for July 18 to get a deal done, but extended it to Oct. 18 to help address regulatory concerns in the UK.
“We’re grateful for the CMA’s thorough review and decision today,” Microsoft President Brad Smith said in a statement. “We have now crossed the final regulatory hurdle to close this acquisition, which we believe will benefit players and the gaming industry worldwide.”
The deal, originally announced in January 2022, is the biggest acquisition in the history of video games, and is Microsoft’s largest ever.
Microsoft faced opposition to the deal in the U.S., but a federal judge in July sided with the Redmond company following a challenge from the Federal Trade Commission to block the merger. An appeals court then denied a FTC motion to temporarily stop the deal. The FTC is still appealing the decision.