Microsoft Completes $69 Billion Activision Blizzard Acquisition After 20-Month Regulatory Battle
Microsoft has officially closed its $69 billion acquisition of Activision Blizzard, culminating a 20-month approval process that involved regulators in the US, EU, UK, and New Zealand. The deal faced significant opposition, including a lawsuit from the Federal Trade Commission (FTC) that Microsoft defeated in US federal court, and a block from the UK’s Competition and Markets Authority (CMA) that was resolved after Microsoft restructured the deal. This acquisition marks Microsoft’s largest ever and transforms it into a major player in gaming, adding iconic franchises like Call of Duty, World of Warcraft, Diablo, Overwatch, and Candy Crush to its portfolio.
Activision Blizzard, composed of five business units—Activision Publishing, Blizzard Entertainment, King, Major League Gaming (which shut down in 2024), and Activision Blizzard Studios—brings not only beloved games but also global eSports activities. Under the terms of the deal, Bobby Kotick will continue to serve as CEO of Activision Blizzard while the company remains independent until the deal closes. However, according to The Wall Street Journal, Kotick is expected to depart once the deal closes under Microsoft’s management, though Kotick himself has expressed interest in remaining with the company. The acquisition also includes the potential for Microsoft to leverage these franchises across its gaming ecosystem, including Xbox and Game Pass.
The road to completion was anything but smooth. The FTC’s attempt to block the deal was defeated in court, and the CMA’s concerns were addressed by restructuring the deal to divest cloud gaming rights. This approval process underscores the increasing scrutiny of big tech acquisitions and the challenges of navigating global regulatory landscapes. The deal’s closure also comes after the board proceeded despite Kotick’s initial hesitancy, driven by fears of the ongoing lawsuit’s impact while he remained on the board. While a TikTok deal never materialized, the Activision acquisition remained a priority for Microsoft.
With this acquisition,
Shimanta Das 
