Microsoft will acquire Activision Blizzard for $68.7 billion. The move to acquire the game developer giant is intended to keep the company’s plans to expand into the gaming business across PC, console, mobile, and the cloud, as well as to give it a solid start in the metaverse.
Microsoft will become the third-largest gaming company in terms of revenue once the deal is complete, with Tencent and Sony ahead of it.
Gaming franchises such as Warcraft, Diablo, Overwatch, Call of Duty, and King’s Candy Crush will from hereon be part of the Microsoft family. Bobby Kotick will continue to be the CEO of Activision Blizzard and will report to Microsoft Gaming CEO Phil Spencer/
Satya Nadella, chairman and CEO, Microsoft, while announcing the move said, “Gaming is the most dynamic and exciting category in entertainment across all platforms today and will play a key role in the development of metaverse platforms. We’re investing deeply in world-class content, community, and the cloud to usher in a new era of gaming that puts players and creators first and makes gaming safe, inclusive, and accessible to all.”
According to Activision Blizzard’s Bobby Kotick, “For more than 30 years our incredibly talented teams have created some of the most successful games. The combination of Activision Blizzard’s world-class talent and extraordinary franchises with Microsoft’s technology, distribution, access to talent, ambitious vision, and shared commitment to gaming and inclusion will help ensure our continued success in an increasingly competitive industry.”
In an all-cash transaction, Microsoft will acquire Activision Blizzard for $95.00 per share, including Activision Blizzard’s net cash. The deal will follow the regular closing conditions, completion of regulatory review, and Activision Blizzard’s shareholder approval. If everything goes well the deal is expected to close in the year 2023.
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