Activision Blizzard has bought itself back from French media giant Vivendi, regaining its independence.
Activision and a group of investors announced the $8 billion deal today, stating that it will result in the majority of the company’s shares being owned by public investors. Vivendi will retain 83 million shares as part of the deal giving it a 12 percent stake.
CEO Bobby Kotick and co-chairman Brian Kelly are in charge of a separate investment group which purchased 172 million shares, while Activision Blizzard as a whole bought approximately 429 million shares.
“The transactions announced today will allow us to take advantage of attractive financing markets while still retaining more than $3 billion cash on hand to preserve financial stability,” Kotick said of the deal.