Microsoft has been granted permission by a US court to purchase well-known video game producer Activision Blizzard in response to Federal Trade Commission (FTC) action to block the merger. In fact, a refusal ruling issued today by California Judge Jacqueline Scott Croley formally denied the preliminary injunction.
Activision Blizzard can now be acquired by Microsoft before the deadline of July 18 according to the judgement. However, the FTC continues to sue Microsoft for violating antitrust laws. Nevertheless, the acquisition has been approved following testimony that lasted five whole days.
Microsoft obtains Activision acquisition approval from a US court.
Microsoft, a major player in technology, declared its intent to purchase Activision Blizzard for $69 billion at the start of 2022. The decision was of utmost significance to the gaming industry and was a watershed point for both businesses and the industry’s future.
Some of the most respected and well-known gaming properties in the world are produced by Activision Blizzard. These include the hugely successful Call of Duty series, World of Warcraft, and Diablo. everything that would make Microsoft more competitive.
With the agreement, Microsoft publicly expressed its desire to strengthen its position as a contender in the gaming industry. The FTC then objected to the transaction. It declared that if approved, Microsoft will have the power to stifle competition in the console and gaming businesses.
That preliminary injunction has since been overturned, however, as Microsoft has been granted permission by a US court to buy Activision Blizzard for the sum agreed upon in 2022. The issue hasn’t been fully rectified, though. In a similar vein, the UK attempted to stop the acquisition while Microsoft awaited a ruling. The hearing is now scheduled on July 28th.
