The United Kingdom approved a deal that will be the largest in the history of the gaming industry: Microsoft will buy game developer Activision Blizzard for $69 billion.
The deal was approved by the UK Competition and Markets Authority (CMA), according to a statement posted on the British government website.
London previously blocked the deal due to the threat of competition in the cloud gaming market, but Microsoft reportedly made concessions. The company agreed to sell the cloud rights to Activision games to France’s Ubisoft Entertainment.
The concessions made by Microsoft will help maintain competition in the growing cloud gaming market, which will benefit British gamers, said CMA director Sarah Cardell.
Microsoft, which develops Xbox game consoles, announced plans to buy Activision for $68.7 billion in January 2022. The US Federal Trade Commission tried to block the deal and filed a lawsuit in San Francisco District Court, but In early July it rejected the regulator’s demand. In May, the agreement received approval from the European Commission. London remained the last of the key jurisdictions not to approve the Activision Blizzard purchase.
Microsoft shares in Nasdaq premarket trading on October 13 fell 0.24% to $330.4.
Author:
Anastasia Marina
Source: RB
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