Activision Blizzard (NASDAQ:ATVI) completed a transaction with Microsoft Corporation (NASDAQ:MSFT) in accordance with the deal announced on January 18, 2022.
As per the original agreement, a subsidiary of Microsoft, Anchorage Merger Sub Inc., merged with and into Activision Blizzard, with Activision Blizzard becoming a wholly owned subsidiary of Microsoft.
“Today we start the work to bring beloved Activision, Blizzard, and King franchises to Game Pass and other platforms,” Microsoft Gaming CEO Phil Spencer said in a blog post. “We’ll share more about when you can expect to play in the coming months.”
The news comes after the UK's Competition and Markets Authority (CMA) stated that Microsoft's acquisition of Activision, excluding cloud gaming rights, would help maintain competitive pricing and improve services.
Microsoft's acquisition of Activision Blizzard is the largest deal in the company's 48-year history.
Microsoft successfully addressed competition concerns from U.K. and European regulators and received a favorable ruling from a U.S. district judge in this regard.