Vivendi, the French multinational mass media company who currently owns a 63% stake in Avtivision Blizzard, will soon lose its flagship gaming company after CEO Bobby Kotick leads an investor buyout worth $8.2 billion.
Activision Blizzard will purchase 439 million shares worth $5.83 billion, while an investment group led by Bobby Kotic and co-chairman Brian Kelly will purchase 172 million shares worth $2.43 billion.
After the buyout, Activison Blizzard becomes an independent company; since mid-2008 they have been part of Vivendi Games after a $18.9 billion deal.
Bobby Kotick in prepared statement said:
These transactions together represent a tremendous opportunity for Activision Blizzard and all its shareholders, including Vivendi…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.
Activision Blizzard houses some of the best studios in the business, including Infinity Ward – creators of Call of Duty, Blizzard Entertainment – creators of World of Warcraft, and Activision – publisher of the forthcoming Destiny.