Much of the video game industry was shaken by the recent news that Microsoft will be acquiring Activision Blizzard, bringing the company under its Xbox umbrella. This is hardly the first major acquisition that Microsoft has made in recent memory, as the company bought out Bethesda's parent company ZeniMax Studios last year, but the sheer scope of the Activision Blizzard deal is unlike any other in the history of the industry. With the publisher being responsible for big names such as Call of Duty and World of Warcraft, Microsoft and Xbox have been given a significant upgrade when it comes to potential exclusive properties.

After all the developer and publisher acquisitions that have been made by Sony, Microsoft, and most recently Take-Two with the purchase of Zynga, the amount of video game companies that operate on their own terms seems a lot smaller. While some of these deals have been natural, like Sony's purchase of Insomniac Games, the mammoth size of the Microsoft/Activision Blizzard merger could cause some reactionary buying on the part of major companies. With so many names currently being thrown around, it's worth taking a look at what major gaming companies still have full operational independence.

RELATED: Legal Expert Explains Why Microsoft's Acquisition of Activision Blizzard Won't Break Antitrust Laws

EA

Electronic Arts logo dot

Now that Activision Blizzard will be answering to Phil Spencer and the team at Xbox, arguably the largest video game company in terms of market value that remains independent is EA. Home to several in-house developers like EA Sports, the company also has BioWare, Criterion Games, DICE, Motive Studios, and Respawn Entertainment under its roof. EA has never exactly had any financial troubles thanks to the revenue it generates from games like Madden NFL and FIFA, but on the development side it's no secret that plenty of games to come out under the EA banner haven't met fan expectations.

Ubisoft

ubisoft logo

Although Activision Blizzard is one of the most profitable video game publishers in the current industry, there are still numerous other companies that bring in a respectable amount each year. Ubisoft is one such company that has built up a strong foundation on numerous longstanding franchises. Between Assassin's Creed, Far Cry, and Rainbow Six, the Ubisoft name is one of the most prolific between all major gaming platforms. While Ubisoft's proclivity for experimentation like in its recent NFT venture Ubisoft Quartz may not always go over well, the company has maintained a consistent level of success. However, its name does also come with recent controversies akin to the harassment seen at Activision Blizzard.

Embracer Group

The Embracer Group title and logo against a plum colored background

The name Embracer Group may not generate a lot of buzz on its own, but diving into the many developers that fall under the company's umbrella it's clear how important it is. Embracer Group operates somewhat differently from other gaming companies in that it is a holding company for various other publishers. Embracer is responsible for big names such as Gearbox Entertainment, Koch Media, and THQ Nordic, with each company's respective developers also calling Embracer home. With games like Borderlands and Saints Row making up just a few of the titles coming out of Embracer, the company is responsible for some big hits.

The Microsoft and Activision Blizzard deal won't be finalized for some time, but the ramifications of this acquisition are already being speculated on. Questions are being thrown around about the future of major titles like Call of Duty and Overwatch, and at this point it's likely too soon to make any definite conclusions. It's no secret that Microsoft has been looking for a major edge over Sony when it comes to gaming exclusives, and this deal is certainly a dramatic solution. Time will tell if Sony responds with its own major acquisition in the near future.

MORE: After Xbox's Activision Blizzard Acquisition, It's Clear That PlayStation Needs an Exclusive FPS