It's official, Microsoft now owns Activision Blizzard. Well, almost.
After the tech giant confirmed that it had moved to acquire the controversial video game publisher in January, the latter's shareholders recently voted if they are for or opposed to the buyout. To no one's surprise, 98% of all the company's shareholders voted yes to the deal. The transaction hasn't closed yet - it's expected to push through on June 30, 2023 - but the votes remove any doubt that any opposition will come from Activision Blizzard's shareholders.
Activision Blizzard CEO Bobby Kotick expressed his delight in the turnout, saying that the combined companies "will be even better positioned to create great value for our players, even greater opportunities for our employees, and to continue our focus on becoming an inspiring example of a welcoming, respectful, and inclusive workplace."
Activision Blizzard has had a rough year so far due to the several sexual harassment lawsuits lobbied against the company. The most recent allegation comes from a female employee who claims that she was subjected to sexual harassment on the first day and her attempt to come forward resulted in a demotion. It will be interesting to see what will happen to Activision Blizzard once Microsoft takes over. Specifically, if Kotick will remain in power after most of the complaints filed against Activision Blizzard puts him in the center of all the issues.
Having said that, the purchase still has to get past a couple of hurdles. The next step in the massive $70 billion deal is for the government to approve the transfer and pass the FTC inspection. Not to mention, regulatory groups might raise concerns about the potential monopoly that this arrangement creates.
TLDR; while a crucial step forward, Microsoft's attempt to takeover Activision Blizzard isn't a done deal just yet.