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Activision Becomes Independent

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Posted October 15, 2013 by Kat in News
Activision-Blizzard-

Activision Blizzard has officially become independent, buying back the $8.2 billion dollars worth of shares from owner Vivendi, making Activision the largest independent games publisher in the world.  The majority of shares in the company are now owned by public shareholders.   The company itself made the purchase of 429 million shares for $5.83 billion, while CEO Bobby Kotick and chairman Brian Kelly headed up an investment group that bought the other 172 million shares for $2.39 billion.  Vivendi itself maintains a 12% stake in the company, while the combined shares of Kotick and Kelly make up just under 25%.

The deal was originally brokered back in July, but a shareholder attempted to stop things from going through by filing a lawsuit.  However, the Delaware Supreme Court officially overturned the case, thus officially completing the process, and allowing Activision to move into full independence.

Kotick released a statement regarding the deal, saying, “With the completion of this transaction, we open a new chapter in the history of Activision Blizzard. We expect immediate shareholder benefits in the form of earnings-per-share accretion and strategic and operational independence. Our audiences and our incredibly talented employees around the world will benefit from a focused commitment to the creation of great games. Our shareholders and debt holders will have the benefit of an energized, invested, deeply committed management team focused on generating long-term, superior returns and effectively managing our capital structure.”

It’s also worth noting that one party involved with the investment group headed by Kotick and Kelly which played a role in this deal was Tencent, a Chinese company that is also invested in Riot Games (developers of League of Legends) and has an additional minority stake in Epic Games.  This in turn hints to the possibility of expansion for Activition, something the company may be considering now that they’ve achieved true independence.

Source: Destructoid, Wired

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About the Author

Kat

Kat aspires to be the ultimate crazy cat lady. But until that day comes, she remains faithfully committed to her PS3 and Wii, and spends far too much time online arguing about Star Trek. She can also occasionally be found posting under the pseudonym AmaltheaElanor.

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