Activision Blizzard have reached into their warchest to break free from Vivendi and the deal is estimated to be around $8.2 billion. That’s pretty much the money they’ve made from CoD all these years.
Vivendi is the parent company of Activision Blizzard and holds 61% stake in the company. In a move to become independent they will be paying the sum to buy back their stock.
“These transactions together represent a tremendous opportunity for Activision Blizzard and all its shareholders, including Vivendi,” Activision Blizzard CEO Bobby Kotick said.
“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 company currently has $1.2 billion in the US, and they can’t use the foreign funds because they will be taxed by the US government. They currently have $4.2 billion in cash and majority of them are overseas.
The deal is said to be completed by September. We will keep you updated once we hear more on this.