European Union regulators approved Microsoft’s whopping $69 billion bid for video game developer Activision Blizzard on Monday, providing a ray of hope for what would be the biggest tech deals in decades—less than a month after regulators in the United Kingdom blocked the massive acquisition over concerns it would stifle competition.
E.U. regulators conditionally approved Microsoft's $69 billion purchase of Activision Blizzard, ... [+]
The European Commission, which represents the 27-nation bloc, announced it would allow the deal only after Microsoft agreed to allow gamers to play Activision games on other cloud services.
In a statement, the commission said Microsoft, the maker of gaming console Xbox, agreed to “fully address” regulators’ concerns over competition, providing a possible path forward for Microsoft as it looks to remain competitive with Nintendo and Sony, the maker of PlayStation.
The U.K.’s Competition and Markets Authority, Britain’s antitrust watchdog, announced last month it would block the deal over concerns it would stifle competition in the gaming industry (Activision is an industry giant, developing video game franchises Call of Duty and World of Warcraft).
Microsoft has also faced legal hurdles in the U.S., following the Federal Trade Commission’s December lawsuit to block the deal over antitrust concerns (Microsoft is fighting the suit).
Federal Trade Commission Sues Microsoft To Block $69 Billion Activision Purchase (Forbes)