Originally announced in late 2007, the merger was approved by shareholders earlier this week. The new Activision Blizzard corporation is valued at roughly $18.9 billion, marking one of the largest corporate consolidations in the industry's history.
"We are very excited about the opportunity for Activision Blizzard to create a broader entertainment software platform," said Activision Blizzard chairman Rene Penisson. "We are determined to 'think big'!"
According to the terms of the transaction, Vivendi will become a wholly-owned subsidiary of Activision. Through the merger and a $1.7B stock purchase, Vivendi will acquire roughly 358.3 million shares in the new company, amounting to a 52% ownership stake in Activision Blizzard.