Microsoft to acquire video gaming company Activision Blizzard for $68.7 bn
Microsoft said it agreed to buy video game company Activision Blizzard in a $68.7 billion all-cash deal, making it the third-largest gaming company in the world.
The deal, which is expected to close in the fiscal year 2023, will accelerate the growth in Microsoft’s gaming business across mobile, personal computer, console and cloud, and “will provide building blocks for the metaverse”, the company said. Activision Blizzard is famous as the maker of Candy Crush and Call of Duty, Xbox, among other leading video games.
Upon the completion of the deal, Microsoft will become the world’s 3rd largest gaming company by revenue, behind Tencent and Sony. This is the biggest deal ever by Microsoft and also the largest-ever deal in the history of the gaming industry.