Court rules Microsoft can acquire Call of Duty maker Activision Blizzard

July 11 (UPI) -- A federal judge on Tuesday blocked an attempt by the Federal Trade Commission to stop Microsoft from acquiring video game publisher Activision Blizzard.

The court ruling denies an FTC motion for a temporary injunction that would have halted the deal between the software giant and California-based Activision Blizzard.

The FTC originally filed the opposition four weeks ago and is able to appeal the ruling to a federal court.

The transaction must also clear Britain's Competition and Markets Authority.

Under terms of the deal, Microsoft will pay $95 per share to acquire Activision Blizzard, which was founded in 2008 and counts the popular Call of Duty video game franchise as part of its catalog.

The FTC did not show requisite proof that the acquisition would equate to reduced competition, Judge Jacqueline Scott Corley wrote in her 53-page ruling.

"This court's responsibility in this case is narrow. It is to decide if, notwithstanding these current circumstances, the merger should be halted -- perhaps even terminated -- pending resolution of the FTC administrative action," Corley wrote.

"For the reasons explained, the court finds the FTC has not shown a likelihood it will prevail on its claim this particular vertical merger in this specific industry may substantially lessen competition. To the contrary, the record evidence points to more consumer access to Call of Duty and other Activision content."

Activision Blizzard's stock was up over 11% to $91.82 at 12:49 p.m. EDT Tuesday following the news.

"We're grateful to the court in San Francisco for this quick and thorough decision and hope other jurisdictions will continue working towards a timely resolution," Microsoft's president Brad Smith said in a statement.

"As we've demonstrated consistently throughout this process, we are committed to working creatively and collaboratively to address regulatory concerns."