Activision Blizzard CEO Bobby Kotick has formed an investment group and has executed a company buyout from Vivendi. This buyout sees Activision Blizzard become its own company separate from now one-time parent company Vivendi. The buyout also sees Kotick, along with investment group partner Brian Kelly and Chinese company Tencent, spending $8.2 billion in shares acquisition.
Kotick’s investment group purchased 439 million shares in Activision Blizzard from Vivendi to the value of $5.83 billion. A further 172 million shares were purchased for $2.34 billion, making the newly formed investment group the majority shareholder of Activision Blizzard.
“We should emerge even stronger-an independent company with a best-in-class franchise portfolio and the focus and flexibility to drive long-term shareholder value and expand our leadership position as one of the world’s most important entertainment companies,” Kotick said in a statement. “The transactions announced today will allow us to take advantage of attractive financing markets while still retaining more than $3 billion cash on hand to preserve financial stability.”
Source: Games Industry International