Although Microsoft’s attempted purchase of Activision Blizzard began in January, the process took a big formal step this week. Activision Blizzard’s collective shareholders had not officially given their go-ahead to the merger and transfer of the World of Warcraft studio under the Microsoft umbrella, but Thursday’s vote cleared that hurdle.
Since microsoft first announced that he was going to try to buy ActivisionBlizzard, the process has been moving forward, although it is likely that the agreement will be officially done. In addition, several more boxes will have to be checked for the Call of Duty company to officially come under the orbit of Phil Spencer, head of Xbox.
Shareholder voting was one of those important boxes, as Activision it is a publicly traded company, although it seems that it was more of a formality.
The official approval of the agreement was announced by Activision after a special meeting of shareholders, while the announcement added that the vast majority of those who voted were in favor of the deal. In the official count, more than 98% of the votes were in the affirmative, which is especially noteworthy because a group of Activision shareholders filed a lawsuit in February to try to stop the acquisition.
Announcing the result, the CEO of ActivisionBobby Kotick hailed the vote as a sign that shareholders confirmed their belief that when it’s all official, it will allow the company to create even greater value for its players.
He added that the company will also be able to offer “even greater opportunities” to its employees. This comment comes as Kotick’s company continues to deal with the fallout from numerous accusations of misconduct by senior management officials. Activision.
Indeed, allegations of misconduct have contributed to microsoft decided that the time had come to make the grand offer which has now been officially accepted.
Although the shareholder vote is another important step in bringing Activision Blizzard under the control of Microsoft, the deal is not yet official.