Activision's Kotick, Microsoft's Spencer discuss $69B deal

Activision CEO Bobby Kotick and Microsoft Gaming CEO Phil Spencer this morning discussed the near-$70B deal for Microsoft to acquire Activision. Below are excerpts from their conversation on CNBC.

Kotick on how the deal came about: “We've had a partnership with Microsoft that goes back to the launch of the Xbox. We've had many conversations over the years about various forms of collaboration. ... In that race for the metaverse it started to become apparent that there were a variety of resources and talent that we needed in order for us to continue on that journey and so as Phil and I started to have those conversations, we realized that now is a perfect time for a combination.”

Spencer on the deal: "We really had some formative discussions about this specific opportunity late in the year and we just felt like now was the right time to add the right resources and capability to both companies.” Spencer said Microsoft is “continuing to invest” in gaming and sees it as a "real strong catalyst for us in the consumer categories.”

Kotick on Activision's workplace issues: "Like many companies today we had some challenges, but we have worked through them. We are committed and it's a focus of mine and we continue to improve the culture with the expectation of being the very best, most inclusive workplace culture.”

Spencer on opportunities: “This is our opportunity to fight, to compete, on the largest platform out there in gaming which is mobile devices. That's critically important to us.” Spencer said the “creative teams” at Activision is the “whole future of this deal” (“Squawk on the Street,” CNBC, 1/18).

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