Microsoft to Acquire Activision Blizzard For $68.7B to Build Metaverse and Expand Gaming
DailyCoin
Published Jan 19, 2022 07:41AM ET
Updated Jan 19, 2022 08:00AM ET
Microsoft to Acquire Activision Blizzard For $68.7B to Build Metaverse and Expand Gaming
Microsoft’s biggest acquisition ever, plus the biggest gaming industry deal in history, was marked on Tuesday, the 18th of January, when Microsoft (NASDAQ:MSFT) made almost a $70 billion all-cash deal and acquired gaming company Activision Blizzard (NASDAQ:ATVI). This now makes Microsoft the third largest gaming company in the world.
Activision Blizzard is known for producing the world’s most played video games such as Call of Duty, Crash Bandicoot, Tony Hawk’s, World of Warcraft, Diablo, Candy Crush Saga, and many more.
According to Microsoft News Center, by making the deal, Microsoft aims to provide building blocks for the metaverse and grow its gaming business across mobile, PC, console, and cloud.
“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,” said Satya Nadella, Microsoft’s CEO. “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.” “Players everywhere love Activision Blizzard games, and we believe the creative teams have their best work in front of them. Together we will build a future where people can play the games they want, virtually anywhere they want,” said Phil Spencer, the CEO of Microsoft Gaming.
On the Flipside
- Activision has struggled with complaints about its toxic work environment.
- Three billion people play video games today and the number is expected to increase to 4.5 billion by 2030, Microsoft reported.
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