Microsoft announced that they will acquire ActivisionBlizzard for 68.7 billion dollars all in a cash deal. Microsoft will add games like Call of duty and Overwatch to its portfolio. This deal is the largest in this sector and will make Microsoft, the 3rd biggest gaming company by revenue.
According to the reports Microsoft offered $95 per share is at a premium of 45% to Activision’s Friday close.
Microsoft’s CEO Satya Nadela believes that across all the platforms gaming is the most dynamic and exciting category and also helps in growing metaverse.
We have seen demands for games being surged due to the covid situation as everyone is stuck inside their homes and most people prefer games over other sources of entertainment. Microsoft will also have an edge over Sony as their Xbox platform will have exclusive access to games like Call of duty and Overwatch after this acquisition. Reports also stated that ActivisionBlizzard will see Bobby Kotick as CEO after this deal.
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