Following on from this morning's UK CMA-swerving revision to Microsoft's plans to buy Activision Blizzard for $68.7 billion, the company has officially shared a message from their CEO Bobby Kottick which was sent to employees. The message sheds a little light on the plan and their aspirations for the deal which involves cloud gaming rights of crucial titles being passed to rival Ubisoft.
With the mobile side of Activision Blizzard being the main target of Microsoft's aqusition and never under question, the latest twist feels like a formality designed to distract the CMA from it's unique perspective on cloud gaming on PC and console. Thus, it seems that - at least as far as the deal goes - it's business as usual for Kottick and company.
Full transcript below
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.