Mergers: joining two studios

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Joining forces

In a merger, two companies become one. In an acquisition, one company buys another. Either way, two teams, two ways of working and two sets of games must fit together.

Regulators check big deals

In April 2023, the UK's Competition and Markets Authority blocked Microsoft's planned purchase of Activision Blizzard over cloud gaming. Microsoft restructured the deal: Activision's cloud streaming rights outside the EEA "will be divested to Ubisoft". On 13 October 2023, the CMA granted consent.

Quick check

What changed so the CMA cleared Microsoft's new deal?

  1. Activision's cloud streaming rights outside the EEA went to Ubisoft
  2. Microsoft paid a fine
  3. Nothing changed
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Activision's cloud streaming rights outside the EEA went to Ubisoft

The cloud streaming rights were the CMA's concern, and they went to another company.

Day one

Kai agrees to merge Shard Garden with Moonbeam Games, a smaller studio. On day one, every Moonbeam person hears from their new manager: what changes, what doesn't, and who to ask.

Plan day one

Remy is now manager to three Moonbeam people. What should they hear on their first day?

  1. Who their manager is, what changes and what doesn't
  2. Nothing until the paperwork is done
  3. Whatever is in the rumours
Show the answer

Who their manager is, what changes and what doesn't

Silence fills with rumours. Clear answers on day one let people keep working.

Two ways of working

Different tools, hours and ways of deciding can clash. Shard Garden pairs each Moonbeam person with a buddy and keeps Moonbeam's games with the team that made them.

Quick check

After a merger, the bigger studio's way of working should replace the smaller one's on day one.

Show the answer

False

Changing everything at once loses the people who made the smaller studio good.

Keep the promises

Moonbeam's players were promised updates. The merged studio keeps every promise made before the deal, or says clearly which ones change and why.

Who owns what?

Two studios, one company. Who owns how much?

Bolt says: Next: split the merged studio.

Fact-checked 12 October 2026