Microsoft acquires Activision Blizzard (2023)

United Kingdom Competition and Markets Authority — Microsoft / Activision Blizzard merger inquiry

Blocked 26 April 2023 · Phase 2

The Competition and Markets Authority blocked Microsoft's acquisition of Activision Blizzard in April 2023, finding it would harm competition in cloud gaming. It was the only major regulator to prohibit the deal outright, and the decision was widely reported as putting the transaction in doubt worldwide. The case was closed in August 2023 once the parties restructured.

United States Federal Trade Commission — FTC Matter 2210077

Under investigation 11 July 2023

The Federal Trade Commission challenged the acquisition in its own administrative court and separately sought a preliminary injunction in federal court to stop it closing. The injunction was denied in July 2023 and the deal completed, while the administrative proceeding remained on foot. It is a clear example of three regulators reaching three different answers on one transaction.

United Kingdom Competition and Markets Authority — Microsoft / Activision Blizzard (ex-cloud streaming rights) merger inquiry

Cleared with remedies 6 October 2023 · Phase 1

After the original transaction was prohibited, Microsoft restructured it to exclude the cloud streaming rights, selling them to Ubisoft. The Competition and Markets Authority reviewed the restructured deal as a separate inquiry and cleared it on 6 October 2023, allowing the acquisition to complete a week later.

• divest business → Ubisoft — Cloud streaming rights to Activision Blizzard games outside the European Economic Area, sold to Ubisoft before completion.