Microsoft is set to become the world’s third-largest gaming company by revenue with the acquisition of Activision Blizzard. The company has agreed to acquire Activision Blizzard Inc. in a transaction valued at $68.7 billion. Microsoft will launch Activision’s games into the Xbox Game Pass portfolio bringing users games such as Warcraft, Diablo, Overwatch, Call of Duty and Candy Crush. Satya Nadella, Microsoft CEO believes this acquisition will provide a building block for the Microsoft metaverse.
This will become the biggest acquisition since Satya Nadella took over as the Microsoft CEO. Surpassing the $26 Billion Microsoft paid to acquire LinkedIn in 2016. Last year Microsoft acquired ZeniMax Media (Bethesda Softworks) for $7.5 billion in a move to build an industry-leading first-party Xbox games studios. The new acquisition will increase Microsoft’s internal game development studios to thirty. It will also bring with it Activision’s global eSports activities through Major League Gaming.
“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,” says Satya Nadella, chairman and CEO, Microsoft. “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.”
Microsoft says Activision Blizzard will continue to operate independently until the deal closes in the fiscal year 2023. Then once the deal is complete Activision business will report to Microsoft Gaming CEO, Phil Spencer. Phil notes “we will offer as many Activision Blizzard games as we can within Xbox Game Pass and PC Game Pass, both new titles and games from Activision Blizzard’s incredible catalog“.
Microsoft is also announcing a new Xbox Game Pass milestone with over 25 million subscribers today. The company will be looking to increase this with the introduction of new and exclusive games and titles.
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