Microsoft acquires Santa Monica-based Activision Blizzard for $69 billion

In one of the biggest tech deals of all time, Microsoft Friday completed its $69 billion takeover of Santa Monica-based Activision Blizzard, the maker of “Call of Duty” and other hit video games.

According to a filing with the U.S. Securities and Exchange Commission, Activision is now a wholly-owned subsidiary of the tech giant. The deal was initially blocked by antitrust officials in the United Kingdom, but that obstacle was cleared early Friday when officials reversed their position.

The purchase of Activision makes Microsoft the third-largest gaming company in the world by sales.

The proposed deal was announced in January 2022, but sparked antitrust concerns by the U.S. Federal Trade Commission. However, a federal judge in San Francisco ruled earlier this year that the FTC hadn’t shown that the deal would harm competition for game developers.

Microsoft President Brad Smith said in a statement the deal “will benefit players and the gaming industry worldwide.”

Created in 1979 by former Atari Inc. employees, Activision has developed or acquired many of the biggest video game titles, from “Pitfall” in the 1980s to “Guitar Hero” and the “World of Warcraft” franchise. Among Activision’s most important assets for Microsoft was its King studio, maker of popular mobile games such as “Candy Crush Saga,” which has reportedly been downloaded 5 billion times.