iTWire - Microsoft submits fresh Activision deal after UK rejects initial bid
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Tuesday, 22 August 2023 16:29
Microsoft submits fresh Activision deal after UK rejects initial bid Featured
By Sam Varghese
The UK competition regulator, the Competition and Markets Authority, has confirmed that it has blocked the original deal submitted by Microsoft in its bid to acquire gaming firm Activision Blizzard.
In a statement on Tuesday, the CMA said Microsoft had now submitted a new, restructured deal for review. Last month, the two companies agreed to extend the date for closing the deal to 18 October.
Under this deal, Microsoft will not acquire rights to all current and future games released by Activision during the next 15 years excluding in the European Economic Area. These rights will be divested to Ubisoft Entertainment SA (Ubisoft) before the acquisition goes ahead.
Microsoft had initially sought to revisit its original proposal which was blocked by the CMA on the grounds that it would hinder innovation and choice in the cloud gaming market.
But the CMA did not agree with this reasoning and imposed a worldwide ban on the deal going ahead. The new deal submitted by Microsoft and Activision has to be reviewed by the CMA.
CMA chief executive Sarah Cardell said: "The CMA has today [Tuesday] confirmed that Microsoft’s acquisition of Activision, as originally proposed, cannot proceed.
"Separately, Microsoft has notified a new and restructured deal, which is substantially different from what was put on the table previously.
"As part of this new deal, Activision’s cloud streaming rights outside of the EEA will be sold to a rival, Ubisoft, who will be able to license out Activision’s content to any cloud gaming provider.
"This will allow gamers to access Activision’s games in different ways, including through cloud-based multi-game subscription services. We will now consider this deal under a new Phase 1 investigation.
"This is not a green light. We will carefully and objectively assess the details of the restructured deal and its impact on competition, including in light of third-party comments.
"Our goal has not changed – any future decision on this new deal will ensure that the growing cloud gaming market continues to benefit from open and effective competition driving innovation and choice."
The CMA invited interested parties to comment on the effects that the proposed new deal would have on competition in the UK games market. More information on this is available here.
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