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Tuesday, May 21, 2024

EU Likely To Approve Microsoft’s $69B Acquisition of Activision Blizzard

  • The $69 billion deal — the biggest in gaming history — will be approved in Europe and likely go through on Monday, according to Reuters.
  • The deal was blocked in the U.K. due to regulators’ concerns over cloud gaming competition.
Activision-Blizzard
Robert Hanashiro-USA TODAY

The European Union is likely to take a separate stance from U.K. regulators on the Microsoft acquisition of Activision Blizzard.

The $69 billion deal — the biggest in gaming history — will be approved in Europe and likely go through on Monday, according to Reuters.

The deal was blocked in the U.K. due to regulators’ concerns over cloud gaming competition, which the company plans to appeal. When the news surfaced, Microsoft president Brad Smith reportedly said that the choice “rejects a pragmatic path to address competition concerns and discourages technology innovation and investment in the United Kingdom.”

The Federal Trade Commission sued to stop the deal, while Japan has approved it.

Turbulent Times

After struggling with multiple rounds of layoffs, managerial changes, and revenue shortages, Activision Blizzard’s fate was finally looking more positive. Concerns over whether the Microsoft deal would go through have threatened to throw the beleaguered company back into chaos.

Nevertheless, the “Call of Duty” publisher saw positive results in its first-quarter earnings report. The company recorded a net income of $740 million — an 87% increase.

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