Activision Blizzard Gets Independence For $8.2 Billion

In an effort to separate itself from its parent company, Vivendi, Activision along with Bobby Kotick, CEO of Activision Blizzard , and co-chairman Brian Kelly, are leading an investor buyout to take the company "independent" for $8.2 billion dollars.

Activision blizzard is looking at buying up 439 million shares from Vivendi for $5.83 billion and additionally an investment group led by Kotick and Kelly will purchase 172 million shared worth $2.34 billion.Kotck's and Kelly's investment group will also include Chinese operator Tencent, Davis Advisors and Leonard Green & Partners.

Kotick stated:

"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. 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.

Most people in the gaming industry feel this was a good move on Activision's part as it looked like Vivendi was milking the company for all it could get. Hopefully we will see some major changes for the company in the near future that will bring various segments, like Blizzard, back on track and to making the great games they were known for in the past.

Social
Source gamesindustry
Channels Business, Gaming
Topics Blizzard, Activision, Gaming Industry, Buyout, Vivendi
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