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☆ UK regulator may refer Adobe's $20 bln Figma deal to deeper probe
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +2 min

June 30 (Reuters) - Britain's competition regulator on Friday said Photoshop owner Adobe Inc's (ADBE.O) $20 billion buyout of cloud-based designer platform Figma may be referred to a deeper investigation as it could "reduce innovation". The Competition and Markets Authority (CMA) said unless the parties offer acceptable undertakings to address competition concerns, the deal would be referred to a Phase 2 investigation. CMA had said in May it was looking into the deal, announced in September last year. "Adobe has no meaningful plans to compete in the product design space," Adobe said in a statement. "We remain confident in the merits of the case as Figma's product design is an adjacency to Adobe’s core creative products."

Persons: We're, Sorcha O'Carroll, Adobe, Eva Mathews, Radhika Anilkumar, Chavi Mehta, Janane Venkatraman, Angus MacSwan Organizations: Adobe, Markets Authority, CMA, Regulators, Big Tech, Activision, Thomson Locations: U.S, Bengaluru

☆ The biggest takeaways from Microsoft's courtroom showdown with the FTC over Activision Blizzard
▼ + stars: | 2023-06-30 | by ( Jordan Novet | ) www.cnbc.com time to read: +21 min

The impulse to expand Microsoft's gaming business on mobile devices at least in part inspired the Activision acquisition. The impulse to expand Microsoft's gaming business on mobile devices at least in part inspired the Activision acquisition. Jim Ryan, CEO of Sony Interactive Entertainment, wasn't happy with a Microsoft-generated list of Activision Blizzard games that would remain accessible on the PlayStation after the acquisition closes. Jim Ryan, CEO of Sony Interactive Entertainment, wasn't happy with a Microsoft-generated list of Activision Blizzard games that would remain accessible on the PlayStation after the acquisition closes. Activision Blizzard and Microsoft have agreed to terminate the deal if it's not done by July 18.

Persons: Satya Nadella, Phil Spencer, Spencer, James Weingarten, Weingarten, Jim Ryan, Sony, Ryan, Amy Hood, Bobby Kotick, Sarah Bond, Kotick, Amazon Weingarten, Bond, Tim Stuart, Nadella, Bernstein, Mark Moerdler, Hood, Stuart, it's, Jacqueline Scott Corley, she'll Organizations: Northern, Northern District of, Microsoft, Activision Blizzard, Federal Trade Commission, FTC, Sony, PlayStation, Mobile, Activision, Xbox, Zynga, Sega Sammy, Nintendo, Enix, Sony Interactive Entertainment, Management, Sony Group, Amazon, Microsoft's Xbox, Bernstein Research, Symantec, Sony PlayStation Locations: U.S, Northern District, Northern District of California, San Francisco, cybersecurity, United Kingdom, FarmVille, Asia, Japan, Tokyo

☆ Microsoft knows its out of touch with Gen Z. The software giant plans to lure them with AI, an internal memo shows
▼ + stars: | 2023-06-30 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +3 min

Microsoft CEO Satya Nadella plans to use AI to attract Gen Z users, a new internal memo shows. A "relatively low share" of Gen Z users compared to competitors, could be a "long-term risk". The confidential internal memo was briefly published online this week by federal antitrust regulators. Last year, the company's research division released a study on the preferences of Gen Z and Millennial office workers. "Something interesting I've noticed teaching is, Gen Z just does not use Microsoft Word, period.

Persons: Satya Nadella, Nadella, Gen Z, Gen Z's Organizations: Activision Blizzard, Microsoft, Excel, Federal Trade Commission, Google

☆ Canada tells Microsoft that Activision deal is likely to lessen competition, court filing shows
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, June 29 (Reuters) - Canada's Department of Justice told lawyers for Microsoft that it had concluded that the deal to buy Activision "is likely to" lead to less competition in some aspects of gaming, according to a court filing on Thursday. In a letter dated Wednesday, the bureau said that it had communicated to Microsoft and Activision that the deal would likely lead to less competition in "gaming consoles and multigame subscription services (as well ascloud gaming)." Reporting by Diane BartzOur Standards: The Thomson Reuters Trust Principles.

Persons: Diane Bartz Organizations: Canada's Department of Justice, Microsoft, Activision, Thomson

☆ Microsoft's appeal of UK Activision veto to go ahead as planned
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: 1 min

LONDON, June 29 (Reuters) - Microsoft's appeal against Britain's veto of its $69 billion deal to buy Activision Blizzard will go ahead as planned at the end of July after the Competition Appeal Tribunal (CAT) rejected the antitrust regulator's request for a delay. The Competition and Markets Authority, which blocked the takeover in April, wanted the hearing delayed from July 28 to October to give it more time to prepare and present its case. But the CAT said: "We consider that the CMA has not paid sufficient heed to the true public interest in this case – which is the swift resolution of Microsoft's Notice." Reporting by Muvija M and Paul Sandle; Editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

Persons: Britain's, Muvija M, Paul Sandle, Kate Holton Organizations: Activision Blizzard, Markets Authority, CMA, Thomson

That would leave Nintendo (7974.T) and Sony Group (6758.T) out in the cold, the FTC has said. Asked if Microsoft would have any incentive to shut out Sony's PlayStation in order to sell more Microsoft Xbox consoles, Nadella responded: "It makes no economic sense and no strategic sense." To address the FTC concerns, Microsoft has agreed to license "Call of Duty" to rivals. The FTC has asked Judge Jacqueline Scott Corley in San Francisco to temporarily stop the deal from closing in order to allow the agency's in-house judge to decide the case. Resolving the U.S. lawsuit is one of several key antitrust battles Microsoft and Activision have fought around the world.

Persons: Microsoft Corporation Satya Nadella, Read, Satya Nadella, Nadella, Jacqueline Scott Corley, Biden, Bobby Kotick, Diane Bartz, Lincoln Organizations: Microsoft Corporation, . Federal Trade Commission, Microsoft, Activision Blizzard, Federal Trade Commission, Activision, Nintendo, Sony Group, FTC, PlayStation, European Union, Thomson Locations: California, Downtown San Francisco , California, U.S, WASHINGTON, San Francisco

☆ Microsoft-Activision Hearing Wraps Up as FTC Tries to Stop $75 Billion Deal
▼ + stars: | 2023-06-29 | by ( Tom Dotan | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/microsoft-activision-hearing-set-to-wrap-up-as-ftc-tries-to-stop-75-billion-deal-a0540b8f

Persons: Dow Jones Organizations: microsoft, activision, ftc

☆ Canada says Microsoft deal to buy Activision likely to lessen competition
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, June 29 (Reuters) - Canada's Department of Justice has concluded that Microsoft's (MSFT.O) deal to buy "Call of Duty" maker Activision Blizzard (ATVI.O) "is likely to" lead to less competition in some aspects of gaming, according to a court filing on Thursday. Microsoft has pressed for a decision in the court fight before the July 18 termination date for the deal. "We received notice from the Canada Competition Bureau that it would continue to monitor our acquisition of Activision Blizzard after the formal waiting period preventing the deal to close expired," a Microsoft spokesperson said. Microsoft's bid to acquire the "Call of Duty" videogame maker also faces opposition from British competition authorities. Microsoft's appeal to Britain's Competition Appeal Tribunal is scheduled for July 28.

Persons: Microsoft's, Diane Bartz, Matthew Lewis Organizations: Canada's Department of Justice, Activision, Microsoft's, U.S . Federal Trade Commission, FTC, Microsoft, Canada Competition Bureau, Activision Blizzard, Thomson Locations: Canada, U.S, British, Washington

☆ Leaked messages show angry employees roasting Microsoft CEO Satya Nadella after he thanked the troops for a 'landmark' fiscal year
▼ + stars: | 2023-06-29 | by ( Ashley Stewart | Julie Bort | ) www.businessinsider.com time to read: +3 min

Microsoft CEO Satya Nadella posted a thank-you note to the troops on Wednesday. In light of all of this, CEO Satya Nadella took to Microsoft's internal message boards on Wednesday to thank the troops, in a message viewed by Insider. But a number of employees reacted to Nadella's thank-you note with salty messages, according to internal posts seen by Insider. Another message, also upvoted by over 100 people, wrote, "Here employees take pay cuts as our company and leadership make record profits. As we previously reported, a recent internal Microsoft poll showed that more Microsoft employees say they would leave if they got another comparable offer.

Persons: Satya Nadella, he's, It's, Ashley Stewart Organizations: Microsoft, Activision

The deal had been announced in January 2022 and the FTC sued to stop it in December last year. Judge Jacqueline Scott Corley in San Francisco pressed FTC lawyers on where their economist got the data to show the deal would harm consumers. The FTC has said that if Microsoft bought Activision, Microsoft would have the incentive and the ability to harm competition in markets related to consoles, subscription game services and cloud gaming. "The harm here is we think is substantial in locking up Activision content," said FTC lawyer James Weingarten. To address the FTC concerns, Microsoft has agreed to license "Call of Duty" to rivals.

Persons: Microsoft Corporation Satya Nadella, Read, Microsoft's, Jacqueline Scott Corley, James Weingarten, Corley, Microsoft's Beth Wilkinson, it's, Satya Nadella, Nadella, Biden, Diane Bartz, Lincoln Organizations: Microsoft Corporation, . Federal Trade Commission, Microsoft, Activision Blizzard, U.S . Federal Trade, Activision, Federal Trade Commission, Nintendo, Sony Group, FTC, PlayStation, Thomson Locations: California, Downtown San Francisco , California, U.S, WASHINGTON, San Francisco, British, Canada

☆ Salesforce to invest $4 billion in UK on AI innovation
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

LONDON, June 29 (Reuters) - Salesforce (CRM.N) will invest $4 billion in its UK business in the next five years, the U.S. software company said on Thursday, thanks to strong demand for digital transformations and artificial intelligence. The company said the plan builds on a previous five-year injection of $2.5 billion it set out in 2018. Salesforce said it would work with the government to drive the next wave of digital transformation "in this new AI era." "A clear pro-innovation regulatory framework that compels safe and responsible use of AI is vital, and Salesforce is fully focused on bringing secure, trusted, enterprise ready generative AI to UK businesses," Salesforce UKI boss Zahra Bahrololoumi said. Earlier in June Salesforce blamed an uncertain U.S. economy and weaker demand from financial services and tech companies for its disappointing quarterly results.

Persons: Brad Smith, Rishi Sunak, Sunak, Salesforce, Zahra Bahrololoumi, Muvija, Sarah Young Organizations: U.S ., Activision Blizzard, NYSE, Thomson Locations: U.S, Britain, British

☆ Activision Won’t Withhold Call of Duty From Sony if Microsoft Deal Closes, Chief Says
▼ + stars: | 2023-06-28 | by ( Tom Dotan | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Organizations: activision, sony, microsoft

"You would have a revolt if you were to remove the game from one platform," said Kotick. He said that removing "Call of Duty" from PlayStation, which is made by Sony Group (6758.T), would be "very detrimental" to Activision's business. The Federal Trade Commission has asked a judge to stop the Microsoft acquisition temporarily in order to allow the agency's in-house judge to decide the case. Microsoft CEO Satya Nadella is scheduled to testify on Wednesday afternoon before Judge Jacqueline Scott Corley in federal court. The agency says the transaction would give Microsoft, which makes the Xbox console, exclusive access to Activision games, leaving Nintendo (7974.T) and Sony Group out in the cold.

Persons: Bobby Kotick, Kotick, Satya Nadella, Jacqueline Scott Corley, Biden, Diane Bartz, Greg Bensinger, Matthew Lewis Organizations: FRANCISCO, Activision, Microsoft, PlayStation, Sony Group, Federal Trade Commission, FTC, Nintendo, Britain's, Markets Authority, Thomson Locations: United States, Washington, San Francisco

☆ 'Call of Duty' maker to invest in Barcelona after EU approves Microsoft deal
▼ + stars: | 2023-06-28 | by ( Paul Sandle | ) www.reuters.com time to read: +2 min

LONDON, June 28 (Reuters) - Activision Blizzard (ATVI.O) said its studio that developed "Call of Duty" would set up shop in Barcelona, putting into action its pledge to invest in Europe after Brussels approved Microsoft's $69 billion acquisition of the company in May. In contrast, it said it would "meaningfully expand" its investment and workforce in the European Union after the deal received the green light there. Microsoft and Activision Blizzard are battling antitrust regulators on both sides of the Atlantic to clinch the deal, the biggest ever in video gaming. Activision Blizzard CEO Bobby Kotick and his Microsoft counterpart Satya Nadella are due to testify in a court in San Francisco on Wednesday to urge a judge to allow the merger. Microsoft is appealing the British veto with the "aggressive" support of Activision.

Persons: Bobby Kotick, Satya Nadella, Kate Holton, Alexander Smith Organizations: Activision, Digital Legends, Microsoft, European Union, Activision Blizzard, Atlantic, Federal Trade Commission, Thomson Locations: Barcelona, Europe, Brussels, U.S, Spanish, Guildford, Warrington, England, European, San Francisco, Britain

☆ Microsoft CEO Satya Nadella Says $75 Billion Activision Deal Won’t Block Competition
▼ + stars: | 2023-06-28 | by ( Tom Dotan | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/activision-wont-withhold-call-of-duty-from-sony-if-microsoft-deal-closes-chief-says-3cf2a359

Persons: Dow Jones Organizations: activision, sony, microsoft

☆ Microsoft and Activision Chiefs Testify Merger Will Benefit Consumers
▼ + stars: | 2023-06-28 | by ( Kellen Browning | ) www.nytimes.com time to read: +1 min

Satya Nadella, the chief executive of Microsoft, appeared in federal court on Wednesday to pledge his support for open platforms and consumer choice, underscoring the tech giant’s commitment to closing its $70 billion acquisition of Activision Blizzard over regulators’ objections. “If it was up to me, I would love to get rid of the entire ‘exclusives on consoles,’” Mr. Nadella testified, rebutting claims from tech regulators that Microsoft’s deal for the video game giant would curtail competition and restrict Activision’s games only to players on Microsoft’s Xbox console. “I have no love for that world.”The fourth day of a hearing in U.S. District Court in San Francisco that could determine the deal’s outcome was the highest-profile session, with appearances by Mr. Nadella and Activision’s chief executive, Bobby Kotick. The Federal Trade Commission’s challenge of the blockbuster acquisition, led by its chair, Lina Khan, is viewed as a test of whether more aggressive efforts to curb tech giants can be successful. is seeking a preliminary injunction that would prohibit the companies from closing the deal before the agency has the chance to argue its case in its internal court.

Persons: Satya Nadella, ’, Nadella, rebutting, Bobby Kotick, Lina Khan Organizations: Microsoft, Activision Blizzard, Federal Locations: U.S, San Francisco

☆ Microsoft CEO Nadella says he has 'no love' for exclusive deals between game companies and consoles
▼ + stars: | 2023-06-28 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Microsoft CEO Satya Nadella arrives to court in San Francisco on June 28, 2023. Microsoft CEO Satya Nadella said Wednesday that he would like to eliminate exclusive arrangements between video games and popular gaming consoles. Microsoft employs the strategy as well for its Xbox, though Nadella said his company is a "low share player in the console market." Regarding exclusive deals, Nadella said "I have no love for that world." The FTC is worried that the tie-up could allow Microsoft to withhold popular games in Activision's library from other consoles or degrade service for those games elsewhere.

Persons: Satya Nadella, Nadella, Sony hasn't, Jim Ryan, he's Organizations: Microsoft, Activision Blizzard, Federal Trade, Nintendo, Sony, FTC, Activision, Sony Interactive Entertainment, Linux Locations: San Francisco, California

☆ Microsoft, Activision CEOs expected to urge US judge to allow $69 billion merger
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +1 min

The Federal Trade Commission has asked a judge to stop the transaction temporarily in order to allow the agency's in-house judge to decide the case. Activision Blizzard CEO Bobby Kotick is expected to testify on Wednesday morning, followed by Microsoft CEO Satya Nadella in the afternoon. The case, which is being heard in federal court in San Francisco, will be decided by Judge Jacqueline Scott Corley. The FTC says the transaction would give Microsoft exclusive access to Activision games, leaving Nintendo (7974.T) and Sony Group (6758.T) out in the cold. Reporting by Diane Bartz in Washington and Greg Bensinger in San Francisco Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Bobby Kotick, Satya Nadella, Jacqueline Scott Corley, Diane Bartz, Greg Bensinger, Matthew Lewis Organizations: FRANCISCO, U.S, Microsoft, Activision, Federal Trade Commission, FTC, Nintendo, Sony Group, Britain's, Markets Authority, Thomson Locations: San Francisco, United States, Washington

The Federal Trade Commission has asked a judge to stop the proposed acquisition because, it argues, it would give Microsoft, maker of the Xbox console, exclusive access to Activision games, which include the highly popular "Call of Duty." Asked if Microsoft would have any incentive to refuse to allow the games on Sony's PlayStation in order to sell more of its Xbox consoles, Nadella responded, "It makes no economic sense and no strategic sense." To address the FTC concerns, Microsoft has agreed to license the blockbuster "Call of Duty" to rivals. It has also argued that it is better off financially by licensing the games to all comers. Kotick argued there was no incentive for Microsoft, if it closes the deal for Activision, to restrict who offers the company's games.

Persons: Microsoft Corporation Satya Nadella, Satya Nadella, Nadella, Jacqueline Scott Corley, Biden, Bobby Kotick, Kotick, Diane Bartz, Greg Bensinger, Matthew Lewis Organizations: Microsoft Corporation, . Federal Trade Commission, Microsoft, Activision Blizzard, FRANCISCO, Activision, Federal Trade Commission, Nintendo, Sony Group, FTC, PlayStation, Britain's, Markets Authority, Thomson Locations: California, Downtown San Francisco , California, U.S, WASHINGTON, San Francisco, United States, Washington

☆ LinkedIn ages like fine wine in Microsoft’s cellar
▼ + stars: | 2023-06-28 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +5 min

NEW YORK, June 28 (Reuters Breakingviews) - Most corporate acquisitions deteriorate over time, but Microsoft’s (MSFT.O) $26 billion deal for LinkedIn keeps getting better. Buying LinkedIn was a bold step for Satya Nadella, who became the software goliath’s third chief executive in early 2014. Paying a 50% premium for LinkedIn and its 430 million users made it one of the technology industry’s largest deals ever and by far Microsoft’s biggest. The war over the “Call of Duty” maker is just one of many things happening at Microsoft that’s overshadowing LinkedIn. Those market dynamics have buoyed LinkedIn, which was only generating $3 billion in revenue when Microsoft bought it.

Persons: Satya Nadella, Steve Ballmer, There’s, Mark Zuckerberg, Tesla, Elon Musk, faddish, Microsoft’s, It’s, Jeffrey Goldfarb, Sharon Lam Organizations: YORK, Reuters, LinkedIn, Nokia, aQuantive, Activision, Microsoft, Facebook, Twitter, Sprout Social, Bing, Thomson

☆ Microsoft attempts to pick apart US legal argument against deal to buy Activision
▼ + stars: | 2023-06-27 | by ( Greg Bensinger | Thomson Reuters | Greg Bensinger Joined Reuters As A Technology Correspondent In Focusing On The World'S Largest Technology Companies. He Was Previously A Member Of The New York Times Editorial Board | ) www.reuters.com time to read: +2 min

The U.S. Federal Trade Commission has asked a federal judge to stop the transaction temporarily in order to allow the agency's in-house judge to decide if it can go forward. If the deal goes through, Microsoft has pledged to provide the game to Switch for 10 years. Microsoft attorney Beth Wilkinson pressed Lee in an effort to poke holes in his analysis of the deal, pointing out limitations of his economic modeling. Judge Jacqueline Scott Corley, a federal judge in San Francisco who will decide the case, said little on Tuesday. Reporting by Greg Bensinger in San Francisco Additional reporting by Diane Bartz in Washington Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Microsoft's, Robin Lee, Lee, Beth Wilkinson, Wilkinson, “, Jacqueline Scott Corley, Greg Bensinger, Diane Bartz, Matthew Lewis Organizations: FRANCISCO, Activision, Harvard, U.S . Federal Trade Commission, Microsoft, Xbox, FTC, Nintendo, Sony Group, Britain's, Markets Authority, Thomson Locations: Redmond, Washington, San Francisco, United States

☆ Microsoft CEO Nadella said last year goal is to reach $500 billion in sales by 2030, court filing shows
▼ + stars: | 2023-06-26 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Microsoft CEO Satya Nadella told fellow executives and board members last year that the software company aims to reach $500 billion in revenue by the 2030 fiscal year, more than doubling from its current size. Nadella described a goal of "20/20," involving 20% year-over-year revenue growth and 20% operating income expansion for the 2022 fiscal year and subsequent years. For 2022, Microsoft wound up reaching 18% top-line growth to $198.27 billion in revenue, and 19% operating income growth. In the memo, Nadella used the phrase Microsoft Plus to describe products aimed at consumers. "Our priority is to maintain growth above the market rate to extend our lead over GCP and close the gap with AWS," Nadella wrote in the accompanying document.

Persons: Satya Nadella, Nadella, Kevin Simpson Organizations: Microsoft Corp, White, Microsoft, Activision Blizzard, Amazon Web Services, Google, LinkedIn, Federal Trade Commission, Activision, Apple Locations: Washington , DC

☆ Legacy media companies enter dark times as failures mount and Netflix rises again
▼ + stars: | 2023-06-25 | by ( Alex Sherman | ) www.cnbc.com time to read: +4 min

Stock Chart Icon Stock chart icon Netflix vs the S&P 500 over the past five months. Stock Chart Icon Stock chart icon Disney vs. the S&P 500 over the past five months. Stock Chart Icon Stock chart icon Warner Bros. Stock Chart Icon Stock chart icon Paramount Global vs the S&P 500 over the past five months. Stock Chart Icon Stock chart icon Comcast vs the S&P 500 over the past five months.

Persons: Bob Iger, David Zaslav, Bob Bakish, Wells Fargo, Warren Buffett, It's, dethroning, Donald Trump's, Mario, Zaslav, Greenfield, there's, There's, Simon & Schuster, Mark Read Organizations: Walt Disney Company, Warner Bros, Paramount Global, Getty, Companies, Netflix, Disney, Warner Bros . Discovery, Paramount, CNBC, Fox Corp, Comcast, MSNBC, dethroning Fox, Mario Bros, Boston University, Hollywood, Activision, Simon &, WPP, Cannes Lions Locations: Cannes, France

☆ The Big Number: 70 Billion
▼ + stars: | 2023-06-23 | by ( Marie Solis | ) www.nytimes.com time to read: 1 min

Reporting on the Business news of the weekMarie Solis Reporting on the Business news of the weekA federal judge is deciding whether Microsoft’s $70 billion acquisition of the video game giant Activision Blizzard can move forward. If it can, it would be the largest consumer tech deal in decades. If the judge delays it, a Microsoft lawyer says the company may abandon it. Here’s what to know →

Persons: Marie Solis Organizations: Business, Activision

☆ Microsoft says it looked at acquiring Zynga but opted to go bigger with Activision
▼ + stars: | 2023-06-23 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Zynga was originally for the Facebook hit social game FarmVille, before eventually expanding into mobile games, largely through acquisitions. Prior to the Microsoft offer, Activision met with a financial firm to work on topping Take-Two's purchase of Zynga, CNBC reported at the time. Spencer didn't say when Microsoft was in talks with Zynga, and the company wouldn't provide further comment. Spencer said that after the company went to Zynga, he worked with Microsoft finance chief Amy Hood to look for mobile opportunities. Activision grew its portfolio of mobile games with the 2016 acquisition of King, publisher of Candy Crush Saga.

Persons: Phil Spencer, Justin Sullivan, Spencer, Spencer didn't, Tencent, Amy Hood, King, Candy Organizations: FRANCISCO, Microsoft, Activision, FTC, Activision Blizzard, Zynga, Federal Trade Commission, Facebook, FarmVille, CNBC, Sony, Apple Locations: CALIFORNIA, San Francisco , California, San Francisco

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