The share price of Sony Group Corporation rose 5.14% in the morning session on Thursday after the company announced to boost its research and development spending for its gaming segment by 10% to ¥300 billion (approx. $2.17 billion) this financial year to catch up with its rival Microsoft, according to the report by Nikkei on Thursday.
Yesterday, Microsoft received a green light to begin the process of acquiring video game maker Activision Blizzard after the ruling of the U.S. judge that approved the $69 billion deal.
Shortly after the U.S. judge rejected the Biden administration’s contention, a British regulator stated that it could reconsider its opposition to the deal.
The US Federal Trade Commission (FTC) stepped in to block the deal in January this year before completion, saying that the $69 billion deal would grant Microsoft significant control over Activision’s content and create a situation where Microsoft could manipulate Activision’s offerings, which would result in a substantial reduction in competition over other video game makers such as Nintendo and Sony Group.