'Closed for business': Microsoft and Activision lash out after UK blocks $104 billion merger

  • 📰 abcnews
  • ⏱ Reading Time:
  • 47 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 83%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

The UK's competition authority refuses to allow Microsoft's multi-billion-dollar acquisition of Activision, ruling such market dominance would suppress innovation in new technologies like cloud gaming.

Microsoft and Activision have vowed to fight the blockMicrosoft owns 60-70 per cent of the cloud gaming market

Players subscribed to cloud gaming services are presented with a library of games they can play at an instant, with no installation or hard drive space requirements. All that's needed is a steady internet connection. Microsoft owns the Xbox gaming console, as well as Windows, the operating system on which PC games are played.

"Cloud gaming needs a free, competitive market to drive innovation and choice," chairperson Martin Coleman said. "Alongside Microsoft, we can and will contest this decision, and we’ve already begun the work to appeal to the UK Competition Appeals Tribunal," Mr Kotick said. In 2020, Microsoft acquired Bethesda in a $9 billion deal, and has said its next three major games from the developer would be exclusive to its Xbox and PC platforms.There are just three major companies that have dominated the gaming industry for the past 20 years – Microsoft , Sony and Nintendo .

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines