Phil Elliott
11:45 (BST)
03/12/2007
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ActiBlizz deal unexpected, say insiders
Industry sources identify possible leak as a reason for announcement's timing
Following yesterday's headline news that Activision and Vivendi have merged their games businesses to form a new company called Activision Blizzard, industry sources have indicated to GamesIndustry.biz that the deal was a surprise both to industry insiders and those working for the companies involved.
According to one source, meetings with employees at Activision and Vivendi had to be cancelled today due to company-wide meetings, which were held at short notice.
Another source close to one of the companies involved in the deal claimed the announcement's timing may have been forced by the possibility of a leak, adding to speculation that yesterday's press release may have come sooner than anticipated by the deal-brokers.
The announcement of the merger came hot on the heels of Activision's confirmation last week that it was raising its financial outlook, news that pushed the companyâs share price up 16 per cent.
It is now expected that trading in Activision's NASDAQ-listed shares will be suspended following the announcement of the planned buy-back scheme.
No further details as to any potential restructuring within the new company have yet been released.
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