Activision-Blizzard CEO Bobby Kotick provided an update on the pending Microsoft deal following the European Commission’s approval. In an email that was sent to company employees, Kotick said via an update on their news site:
“Today, we achieved an important milestone: the European Commission (EC), one of the world’s most thorough and respected regulators, approved our merger with Microsoft. This decision underscores the benefits our transaction provides to players and to competition.
Careful regulators in numerous other countries have already approved the merger. By joining them today, the EC has once again demonstrated their rigorous, fair and sensible approach with the creation of appropriate regulatory guardrails that ensure competition in important growth industries.
Microsoft has agreed to conditions as part of the EC’s approval, including licenses for legitimate cloud gaming providers to stream Activision Blizzard games and enforcement mechanisms to ensure these regulatory commitments are upheld.
This important step provides a proper roadmap for regulators around the world to consider when determining how best to encourage and promote competition in the gaming industry.
There is still work to be accomplished before our merger can be finalized but it is encouraging that regulators like the European Commission understand and appreciate the considerable growth opportunities provided by our industry.
Thank you for your patience as we work to promote fair, free trade, healthy competition and broader recognition for the extraordinary work our people do each day to entertain hundreds of millions of people around the world.
The CMA, who has decided not to approve the deal on grounds that the Microsoft’s acquisition of Activision-Blizzard would create an unfair advantage in the cloud gaming market, responded to the European Commission’s approval stating that it “stands by its decision” to block the acquisition.