Microsoft on the verge of sealing Activision deal
, defeating an effort by the US Federal Trade Commission to block the largest-ever gaming deal.
Microsoft has said it struck the deal to acquire Activision in order to add mobile games — an area where it has virtually no presence. Activision owns King, the maker of Candy Crush. The combination will vault Microsoft to the number-3 slot among global videogame companies behind China’s Tencent Holdings, the publisher of League of Legends, and game console rival Sony, Microsoft had said.Activision rose as much as 6% on the news, and was trading up 4.4% to $86.31 at 11.08am in New York.
“We are disappointed in this outcome given the clear threat this merger poses to open competition in cloud gaming, subscription services and consoles. In the coming days, we’ll be announcing our next step to continue our fight to preserve competition and protect consumers,” FTC spokesman Douglas Farrar said in an e-mail.
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