Microsoft's purchase of Activision is easily one of the largest purchases of this year, amounting to $68.7 billion. Because of this, it may not come as a surprise that the Federal Trade Commission of the United States (FTC) is asking for more information regarding the deal.
FTC is Now Requesting More Information Regarding Microsoft's Deal with Activision Blizzard
According to the story by GeekWire, The FTC is requesting for "additional information and documentary material" from both Activision Blizzard and Microsoft. This is in order for them to thoroughly review the proposed $68.7 billion acquisition of the company.
A Securities and Exchange Commission (SEC) filing made by Activision Blizzard revealed FTC's request. This, however, should not be a cause for alarm, according to the publication, due to it being a necessary step, especially in a larger merger review.
Microsoft Activision Blizzard is Expected to Finalize on June 30, 2023
For those worried that the deal might not push through, it does not necessarily mean that if the FTC asks for additional documentation, the agency is attempting to block or even put more conditions on the deal.
According to Activision Blizzard, June 30, 2023 is the exact date when the deal with Microsoft is expected to finalize. This date is also going to be the end of Microsoft's fiscal year.
Activision Blizzard to Hold Special Meeting for Shareholders on April 28
The companies already gave the timeline during their initial announcement in January pertaining to the deal between the two companies. It should be noted that there will also be an April 28 special meeting set for Activision Blizzard shareholders in order for them to vote on the deal.
This particular deal will become the biggest deal that Microsoft has ever made.
It is being reported that in all of the company's history, the second largest deal took place in 2017 when the Redmond-based company decided to purchase LinkedIn for a whopping $26 billion.
Microsoft's Pressence in the World of Gaming
Microsoft released a statement, saying it will only be behind Tencent and Sony when it comes to revenue as the "third-largest gaming company."
As of press time, the company already owns Windows PC and Xbox gaming, making it already a force to be reckoned in the gaming industry.
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Microsoft Makes Changes to Its Policies
Back in February, Microsoft issued a number of changes on its Windows Store. These included a series of "Open App Store Principles," which is said to affect the company's future gaming marketplaces.
The changes were made by Microsoft looking to avoid potential regulatory objections should they happen when the company's deal with Activision Blizzard is finalized. The changes to their policy can be seen on the official Microsoft website.
With Microsoft's purchase of Activision Blizzard, they would not only own hardware (Xbox Series X and other Xbox consoles) or services (Xbox Game Pass) but also games itself. Aside from "World of Warcraft," there are also numerous other games under Activision Blizzard that would make its way into the Microsoft ecosystem.
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This article is owned by Tech Times
Written by Urian B.
