The next step in the UK for the Microsoft deal
Activision Blizzard welcomes Microsoft’s decision to submit a new application to the CMA, CEO Bobby Kotick writes.
Activision Blizzard CEO Bobby Kotick sent the following email to employees:
I want to share an update on our merger with Microsoft.
To address the UK CMA’s concerns regarding cloud streaming, Microsoft announced it filed a new merger application in the UK that includes a divestiture for cloud streaming rights at closing with respect to current and new PC and console games. We welcome Microsoft's decision to enter into this agreement and submit a new application to the CMA, which Microsoft believes will address the CMA’s concerns.
For us, nothing substantially changes with the addition of this divestiture: our merger agreement with Microsoft, closing deadline, and the cash consideration to be paid for each Activision Blizzard share at closing remain the same. We will continue to work closely with Microsoft and the CMA throughout the remaining review process, and we are committed to help Microsoft clear any final hurdles as quickly as possible.
On that note, our integration management team is hard at work to ensure we are prepared for a smooth close. It’s a major, cross-functional, collaborative effort, and I am thankful for all the work that’s being done.
This has been a longer journey than expected, and I am very proud of how focused everyone has remained on delivering great games. Thanks for your continued dedication and commitment to our players.
More to come.
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Deadline extended on the Microsoft deal (July 19, 2023)
Regulators in Europe approve the Microsoft deal (May 15, 2023)
We’ll keep pressing our case for a Microsoft deal (April 26, 2023)
A March update on the Microsoft deal (March 28, 2023)
A February update on the Microsoft deal (February 8, 2023)
A December update on the Microsoft deal (December 8, 2022)
Defining the future: Announcing a merger with Microsoft (January 18, 2022)