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EU Approves $69bn Acquisition Of Activision Blizzard By Microsoft

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First with the News

EU Approves $69bn Acquisition Of Activision Blizzard By Microsoft

May 15, 2023
in Economy, Top Stories
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By Enyichukwu Enemanna

European Union regulators have okayed Microsoft’s $69 billion acquisition of the popular cloud gaming platform, Activision Blizzard.

Relatedreading

Rising Oil Prices May Push Nigeria’s Inflation Higher – World Bank

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This comes at a time when the deal is being challenged in other countries.

The European Commission in a statement on Monday, said this deal will hamper competition in the fast-growing market for cloud gaming services, adding that it will deal with some antitrust concerns.

Among Microsoft’s offers were a 10-year commitment letting European consumers play Activision titles on any cloud gaming service.

Microsoft also committed that it would not downgrade the quality or content of its games made available on rival streaming platforms.

“These commitments fully address the competition concerns identified by the Commission and represent a significant improvement for cloud game streaming compared to the current situation,” the Commission said.

The Microsoft deal, which would make the company the third largest game publisher in the world after Tencent and Sony, is being challenged in the United States and the UK.

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