Microsoft finalized its acquisition of Activision-Blizzard, the developer of Call of Duty, World of Warcraft, and Overwatch, after a 20-month-long antitrust fight with regulators worldwide.
Microsoft said on Friday that it had closed the deal on the game developer for $68.7 billion. The company announced the agreement to acquire the developer in early 2022, only for the Federal Trade Commission to try and block the deal on antitrust grounds.
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Today is a good day to play. We officially welcome Activision Blizzard King to Team Xbox. Together, we’ll create stories and experiences that bring players together, in a culture empowering everyone to do their best work and celebrate diverse perspectives. https://t.co/KBCESknYYh https://t.co/jTHOeH48Wx
— Phil Spencer (@XboxP3) October 13, 2023
Microsoft succeeded this summer in court against FTC. The company's acquisition was finally approved on Friday by the United Kingdom-based Competition and Markets Authority, which had previously blocked the deal over allegations that it would give Microsoft a monopoly over cloud gaming.
"We love gaming. We play games, create games, and know first-hand how much gaming means to all of us as individuals and collectively as a community. And today, we officially welcome Activision Blizzard and their teams to Xbox," says Xbox chief Phil Spencer. "As one team, we'll learn, innovate, and continue to deliver on our promise to bring the joy and community of gaming to more people."
The purchase will make Microsoft the third-largest gaming company, behind Sony and the China-based Tencent.
Activision-Blizzard CEO Bobby Kotick will remain in leadership until the end of 2023. "I have long said that I am fully committed to helping with the transition," Kotick said in an email to Activision Blizzard employees, according to the Verge. "Phil has asked me to stay on as CEO of ABK, reporting to him, and we have agreed that I will do that through the end of 2023. We both look forward to working together on a smooth integration for our teams and players."
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The U.S.-based Federal Trade Commission initially moved to block the Microsoft deal, pushing it to trial. Judge Jacqueline Scott Corley in San Francisco ruled in favor of Microsoft in July, arguing that the FTC "has not shown a likelihood it will prevail on its claim this particular vertical merger in this specific industry may substantially lessen competition."
The agency hasn't given up the fight yet and intends to challenge the deal post-finalization through its internal administrative court. The European Union, in contrast, approved the deal on first review.