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It’s the biggest deal in the industry, making Microsoft the third-largest gaming company by revenue
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Microsoft Corp. announced on Tuesday that it would buy “Call of Duty” video game maker Activision Blizzard for $68.7 billion in cash, the industry’s biggest deal making the Xbox maker the third-biggest games company by revenue. income.
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Microsoft’s offer of US$95 per share has a 45% premium to Activision’s Friday close. Activision shares rose nearly 38% to US$65.39 before being halted for news.
“Gaming is the fastest growing and most exciting entertainment category on any platform today and will play a key role in the development of metaverse platforms,” Microsoft Chief Executive Satya Nadella said in a statement.
Demand for video games has increased during the pandemic as consumers stuck at home are playing more games for entertainment.
Activision’s library of games such as “Call of Duty” and “Overwatch” also gives Microsoft’s Xbox gaming platform an edge over Sony’s Playstation, which has enjoyed a more steady stream of games for years. exclusive games.
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Bobby Kotick will continue as CEO of Activision Blizzard.
Last week, rival video game publisher Take-Two Interactive Software Inc. announced that it would buy “FarmVille” creator Zynga in an $11 billion cash and stock deal, marking one of the largest industry-wide acquisitions of all time.
© Thomson Reuters 2022
