Microsoft closes $69 billion Activision deal

Xbox maker Microsoft completed its $69 billion acquisition of Activision Blizzard late last week. This increases the company's market weight with best-selling titles such as "Call of Duty" to better compete with industry leader Sony (6758.T).

Originally unveiled in January 2022, the biggest deal in the games industry cleared its last major hurdle - UK approval - after Microsoft agreed to sell streaming rights to Activision's games to alleviate competitive concerns.

The deal is a big boost for the U.S. tech company, which wants to attract more people to its Xbox consoles and Game Pass subscription service.

"Today is a good day to play," Microsoft Gaming CEO Phil Spencer said in a post on the X social media platform, formerly known as Twitter. He will oversee the Activision business, with the video-game publisher's CEO Bobby Kotick staying on until end-2023.

Source: www.reuters.com