EU approves Microsoft's multi-billion-dollar Activision Blizzard acquisition despite UK and US opposition
Just last month, the UK's Competition and Markets Authority (CMA) blocked the proposed acquisition of Activision Blizzard by Microsoft because of concerns about the impact on competition in the cloud gaming arena. In the US, the Federal Trade Commission is also seeking to block the deal
But now EU regulators have cleared the acquisition, subject to conditions. The European Commission will hold Microsoft to commitments it has made to ensure gamers in Europe will have the ability to stream all Activision Blizzard games for which they have a licence via any cloud game streaming services, as well as a corresponding free license to cloud game streaming service providers to allow EEA-based gamers to stream any Activision Blizzard's PC and console games.
SEGA is buying Angry Birds-maker Rovio
Following days of rumors, SEGA has confirmed plans to acquires mobile game firm Rovio.
Best known for its Angry Birds range of title, the Finnish firm is being snapped up by SEGA in a $776.2 million (€706 million) deal. The tender offer from the company behind Sonic the Hedgehog is due to start next month, and the acquisition is expected to close in Q2 of FY2024/3.
Biggest tech acquisitions of 2022
The economic downturn of 2022 hasn’t stopped the tech industry from engaging in merger and acquisition activity. Though deals have decreased by 40 percent in the first half of 2022, several firms and solution providers have negotiated pacts of up to billions of dollars.
Most of the acquisition activity is because of the overall decline in the stock market. When prices plunge and company valuations reduce, firms step in to bargain.