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PC and console gaming giant Activision Blizzard is buying back its independence from parent company Vivendi.
The Call of Duty publisher Activision will buy 429 million shares from the French Media and Telecoms conglomerate for $5.83bn.
CEO Bobby Kotick and co-chairman Brian Kelly have formed a investor group to acquire 172 million shares for $2.34bn, reports MCV.
Following the completion of the transaction, Activision Blizzard will become an independent company, with the majority of its shares owned by the public.
Kotick 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."
