- Microsoft Corp MSFT has rebutted a Federal Trade Commission lawsuit to block its acquisition of Activision Blizzard Inc ATVI for $75 billion.
- The software giant has filed a rebuttal saying the acquisition will not hamper competition in the video gaming industry since it is neither a top console company nor a software developer.
- Instead, the company aims to infuse more competition through its Xbox video gaming unit, the WSJ reported.
- "Xbox wants to grow its presence in mobile gaming, and three-quarters of Activision's gamers and more than a third of its revenues come from mobile offerings," the report quoted Microsoft's response to the FTC lawsuit.
- Also Read: Kevin Kelly Has This Activision Options Strategy After FTC Votes Against Microsoft Deal
- "Xbox also believes it is good business to make Activision's limited portfolio of popular games more accessible to consumers by putting them on more platforms and making them more affordable."
- The FTC, in its complaint, has said that the deal could give a chance to Microsoft to control consumer behavior.
- "This $69 billion acquisition would give Microsoft the means to harm competition in multiple fast-growing gaming markets," said deputy director of the FTC's bureau of competition, John Newman.
- Microsoft announced its plan to acquire Activision in January 2022. The acquisition will make Microsoft the third-largest gaming company by revenue in the world.
- Also Read: Video Gamers Prosecuted Microsoft Over Activision Deal Citing Antitrust Elements
- Price Action: MSFT shares are trading higher by 0.23% at $238.74 in premarket on the last check Friday.
- Photo Via Wikimedia Commons
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