Microsoft’s Activision Blizzard deal approved by UK regulators

theverge.com:

By Tom Warren, a senior editor covering Microsoft, PC gaming, console, and tech. He founded WinRumors, a site dedicated to Microsoft news, before joining The Verge in 2012.

Microsoft’s $68.7 billion deal to acquire Activision Blizzard has been approved by UK regulators. The UK’s Competition and Markets Authority (CMA) has concluded that the deal can proceed after Microsoft recently restructured the deal to transfer cloud gaming rights for current and new Activision Blizzard games to Ubisoft. The decision clears the way for the deal to close now that the UK regulator has given the green light.

“The CMA has decided to give Microsoft Corporation (Microsoft) consent to acquire Activision Blizzard, Inc. (Activision) (the Parties) excluding Activision’s cloud streaming rights outside of the European Economic Area (EEA) (the Merger) subject to the condition that the sale of Activision’s cloud streaming rights completes prior to completion of the Merger,” reads a statement from the CMA.

The CMA describes Microsoft’s concession as a “gamechanger that will promote competition” in the growing cloud gaming market. “With the sale of Activision’s cloud streaming rights to Ubisoft, we’ve made sure Microsoft can’t have a stranglehold over this important and rapidly developing market,” says Sarah Cardell, CEO of the CMA. “As cloud gaming grows, this intervention will ensure people get more competitive prices, better services and more choice. We are the only competition agency globally to have delivered this outcome.”

Microsoft vice chair and president Brad Smith says the company welcomes the CMA’s decision. “We have now crossed the final regulatory hurdle to close this acquisition, which we believe will benefit players and the gaming