Microsoft President Brad Smith says that the company’s $68.7 billion acquisition of Activision Blizzard is “moving fast.” This development comes as Microsoft has faced numerous hurdles as it seeks to close the deal by the company’s fiscal 2023 year ending June 30th, 2023.
Back in January, Microsoft announced its intentions to acquire Call of Duty and Overwatch publisher Activision Blizzard. The deal would effectively see Microsoft absorb a plethora of development studios including Infinity Ward, Treyarch, Beenox, and of course, Blizzard Entertainment. Additionally, the $68.7 billion would also see tentpole franchises like Call of Duty, Candy Crush, World of Warcraft and more under the Xbox umbrella. However, Microsoft first needs approval from the FTC and governing bodies.
When speaking to L’Echo (via TrueAchievements) Smith gave an update on the status of the acquisition. Microsoft is said to have received requests for information on the deal from European and UK regulators. Smith also states that the deal is progressing at a fast rate.
“It’s moving fast, at least fast enough for an acquisition of this size,” Smith said. “We have received requests for information on this subject here in Brussels, but also in London and Washington. We answer questions, we give briefings, and we provide the information requested.”
Smith later discussed how the company seems to be shifting into a later stage of the deal. “One of our attorneys summed it up nicely by saying, ‘We’re coming to the end of the beginning, and now we’re entering the beginning of the middle.”
Currently, Activision Blizzard is being investigated by the California Department of Fair Employment and Housing. Last year, claims of widespread sexual harassment and frat-boy culture began surfacing. Activision Blizzard CEO Bobby Kotick is also being investigated over claims that Kotick enabled a toxic workplace culture.
If the deal is approved, head of Xbox Phil Spencer will begin overseeing Activision Blizzard. However, until the deal is solidified, Kotick will remain in his position.