Microsoft’s massive metaverse move: Buying Activision for $69B
Updated: Jul 18, 2022
According to a Jan. 18 announcement from Microsoft, the firm will acquire Activision Blizzard for $95.00 per share at a valuation of $68.7 billion. The deal is set to close in the 2023 fiscal year, and it will see Microsoft become the third largest gaming company in terms of revenue behind Riot Games owner Tencent and Playstation developer Sony.
Microsoft outlined that the acquisition will support the growth of its services across mobile, PC, console and cloud gaming, and also notably stated that it will “provide building blocks for the Metaverse.”
Activision Blizzard is home to a long list of iconic gaming franchises such as Call of Duty, Overwatch, Candy Crush, World of Warcraft and Tony Hawk’s Pro-Skater. Following the deal, its games are set to be added to Microsoft Xbox’s Game Pass service that has 25 million subscribers.
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Source: Cointelegraph