Activision Blizzard CEO Bobby Kotick has responded to this morning’s stunning decision by the UK’s Competition and Markets Authority (CMA) to block Microsoft’s $69bn acquisition deal.
In an internal email, published publicly, Kotick stated the result “isn’t the news we wanted – but it is far from the final word on this deal”.
He also confirmed that the decision will be contested, alongside Microsoft. “We’re confident in our case because the facts are on our side: this deal is good for competition,” he said.
Much of Kotick’s response focused on the benefits this merger would bring to the UK’s tech market.
“At a time when the fields of machine learning and artificial intelligence are thriving, we know the UK market would benefit from Microsoft’s bench strength in both domains, as well as our ability to put those technologies to use immediately,” said Kotick.
“By contrast, if the CMA’s decision holds, it would stifle investment, competition, and job creation throughout the UK gaming industry.”
This mirror’s a similar statement on Twitter from the company’s EVP of corporate affairs and CCO Lulu Cheng Meservey: “This report is also a disservice to UK citizens, who face increasingly dire economic prospects, and we will need to reassess our growth strategy in the UK.”
The CMA’s report today is a major setback for the UK’s ambitions to be a tech hub, and we will work with Microsoft to reverse it on appeal.
This report is also a disservice to UK citizens, who face increasingly dire economic prospects, and we will need to reassess our growth…
— Lulu Cheng Meservey (@lulumeservey) April 26, 2023
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Kotick continued: “This merger is a complex process, and I know I’m not the only one frustrated by the hurdles and delays. We’re accustomed to a company culture that moves quickly to accomplish big goals, so it’s tough when we can’t close things out at our usual energetic pace. We’ll keep pressing our case, because we know that this merger will benefit our employees, the broader UK tech workforce, and players around the world.