Activision and Blizzard joining forces

Activision has announced some earth-shattering news: the gaming giant would be merging with Vivendi Games to form one monolithic gaming company called Activision Blizzard. The deal, worth almost $20 billion, will see Activision CEO Bobby Kotick keep his place as CEO, while Vivendi’s Bruce Hack will become the Chief Corporate Officer of the combined company. After all the stock shuffling, Vivendi will own approximately 68 percent of the new company.

What’s in this for Activision? “By joining forces with Vivendi Games, we will become the immediate leader in the highly profitable online games business and gain a large footprint in the rapidly growing Asian markets, including China and Korea, while maintaining our leading operating performance across North America and Europe,” Kotick said in a statement. (story)

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