Xbox |OT|

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Activision Blizzard CEO Bobby Kotick sent the following email to employees on Monday:

Today, we achieved an important milestone: the European Commission (EC), one of the world's most thorough and respected regulators, approved our merger with Microsoft. This decision underscores the benefits our transaction provides to players and to competition.

Careful regulators in numerous other countries have already approved the merger. By joining them today, the EC has once again demonstrated their rigorous, fair and sensible approach with the creation of appropriate regulatory guardrails that ensure competition in important growth industries.

Microsoft has agreed to conditions as part of the EC's approval, including licenses for legitimate cloud gaming providers to stream Activision Blizzard games and enforcement mechanisms to ensure these regulatory commitments are upheld.

This important step provides a proper roadmap for regulators around the world to consider when determining how best to encourage and promote competition in the gaming industry.

There is still work to be accomplished before our merger can be finalized but it is encouraging that regulators like the European Commission understand and appreciate the considerable growth opportunities provided by our industry.

Thank you for your patience as we work to promote fair, free trade, healthy competition and broader recognition for the extraordinary work our people do each day to entertain hundreds of millions of people around the world.

Bobby

Activision-Microsoft deal: Bobby Kotick memo about EC decision (activisionblizzard.com)