Britain's top competition watchdog gave the green light to Microsoft's proposed $69 billion takeover of gaming firm Activision Blizzard Friday.
Microsoft first proposed the acquisition of Activision Blizzard in January 2022 but has faced regulatory challenges in the U.S., Europe and U.K ever since.
Regulators were concerned that the takeover would reduce competition in the gaming market, in particular around the nascent area of cloud gaming.Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard logo in this illustration taken January 18, 2022.CMA, the staunchest critic of the takeover, which effectively blocked the deal earlier this yearIn July, the CMA said it would consider a restructured acquisition from Microsoft to allay its concerns.
Cloud gaming is seen as the next industry frontier, offering subscription services that allow people to stream games just as they would movies or shows on. It could even remove the need for expensive consoles, with users playing the games on PCs, mobile and TVs instead. Specifically, the U.K. regulator argued when it blocked the takeover in April that allowing the deal to go ahead would give Microsoft a strong position in the nascent cloud gaming market.At the time, the CMA said it stood by its initial decision to block the deal because the compromises presented to the EU would allow Microsoft to "set the terms and conditions for this market for the next ten years.
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