Gaming giant Activision Blizzard completed a purchase of almost $8.2 billion worth of shares from former owner Vivendi, making this the first time the holding company has been independent.
CEO Bobby Kotick listed the benefits of the company’s new independence in a press release, saying:
We expect immediate shareholder benefits in the form of earnings-per-share accretion and strategic and operational independence. Our audiences and our incredibly talented employees around the world will benefit from a focused commitment to the creation of great games.
The buyout occurred in two parts, with Activision itself purchasing 429 million shares for $5.8 billion, and another 172 million shares coming from an investment venture led by Kotick and Activision Blizzard chairman Brian Kelly.