Microsoft is getting closer to acquiring Activision Blizzard. The British Competition and Markets Authority has given the green light for the transaction.
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On October 13, 2023, the British Competition and Markets Authority officially approved the possibility of Microsoft taking over Activision Blizzard after a restructured agreement dispelled the regulator's concerns. As part of it, the American giant agreed, among other things, to make the popular Call of Duty series by Activision available to its main console market rival - Sony - for 10 years.
“The new agreement does not give Microsoft the ability to block competition in the cloud gaming industry as the market develops. This will maintain competitive prices and services for customers” - we read in the official statement.
This means that Microsoft now has a clear path to finalize a record-breaking transaction for the gaming industry, which is said to be worth 69 billion dollars. However, it must hurry. The deadline for completing the purchase of Activision Blizzard is October 18. It was set back in July, when the US Federal Trade Commission withdrew its objections to the transaction. An additional three months were supposed to be enough to obtain permission from the UK. In total, negotiations with American and foreign antitrust authorities took Microsoft 10 months.
– We have overcome the last regulatory hurdle to finalize this acquisition, which, in our opinion, will benefit players and the gaming industry worldwide – commented on the decision of the British office Brad Smith, Vice Chairman and President of Microsoft.
Activision Blizzard is one of the most recognizable brands in the computer gaming industry. The producer has such titles as World of Warcraft, Call of Duty and Crash Banticoot in its portfolio.
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