The Software License and Service Agreement will be updated. Please follow this link [https://www.activision.com/legal/ap-eula] in order to see these changes.
I wanted to take a moment out of our successful, busy launch season to provide an update on our progress towards the completion of our merger with Microsoft. With increased competition globally from companies with huge talent pools and resources, becoming part of a company with access to talent around the world will help us fill the thousands of open positions we will have over the next few years.
We have been, and will be, in fierce competition to attract and retain the talent we need to create content that will meet the demands of our growing audiences. Being a part of Microsoft will help us better realize our ambitions and satisfy the high standards of our audiences.
As we said when we announced our merger, this is a long process. We have already received approvals from countries including Brazil. After a close review of the transaction, the Brazilian authority arrived at the understanding that we operate in a highly dynamic and competitive industry, and that the merger will not harm competition in any way.
We continue to work cooperatively with regulators in other jurisdictions, and the process is moving along as we expected. Because so many large global companies across the world are now competing in the nearly $200 billion dollar games industry, it’s understandable that regulators are trying to better understand the games business. This week the European Commission announced that we have entered the second phase of our review in the region. We will continue to cooperate with the European Commission where, in the countries they represent, we have many employees. We have been working closely with Microsoft to actively engage regulators in other key countries to answer their questions and provide them with information to assist with their review. People from across our business units and functions have been involved in this regulatory work, and I want to thank each of you for your tireless work and commitment to completing this merger, which we continue to expect to close in Microsoft’s current fiscal year ending June 2023.
We remain excited about the great games we continue to release, the growth we expect greater industry investment from so many companies will generate, and completing the merger with Microsoft so we can better compete.
Thank you, for your passion, enthusiasm, and commitment to excellence.