ionGames publisher Activision has announced a significant buyback of shares from its (now-former) parent company Vivendi. The company is buying back 429m shares at a cost of $5.83bn, while an investment group led by Activision execs Bobby Kotick and Brian Kelly is separately buying 172m shares for $2.34bn. That will leave Vivendi with a minority 12% stake in Activision. “We should emerge even stronger—an independent company with a best-in-class franchise portfolio and the focus and flexibility to drive long-term shareholder value and expand our leadership position as one of the world’s most important entertainment companies,” said Kotick in a statement. As one analyst tells VentureBeat: “Seems like the deal should be a win-win for Activision gets its independence, Vivendi gets sorely needed cash, and Activision shareholders get earnings accretion.” This comes amid wider speculation about Vivendi’s corporate strategy, including rumours earlier this month that it had turned down an $8.5bn offer for Universal Music Group.