Microsoft is buying Activision Blizzard for $68.7 billion

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Microsoft will be acquiring Activision Blizzard for 68.7 billion, it is being bought at $95 per share. This is the biggest acquisition from Microsoft as of right now. When the transaction is completed, Microsoft will be the world’s company with the third-largest in gaming by revenue.

We read from the gaming and software developer the following: “Today, Microsoft Corp. announced plans to acquire Activision Blizzard Inc., a leader in game development and interactive entertainment content publisher. This acquisition will accelerate the growth in Microsoft’s gaming business across mobile, PC, console and cloud and will provide building blocks for the metaverse.”

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Phil Spencer, the Microsoft Gaming CEO, said that Bobby Kotick will keep working as the CEO of Activision Blizzard. But staff will begin reporting to Spencer once the transition is ended. Also, he said that Xbox will “offer as many Activision Blizzard games as we can within Xbox Game Pass and PC Game Pass, both new titles and games from their catalogue.”

“When you think about potential opportunities,” Spenser added while on a conference call, “like, say, offering Diablo, Call of Duty or Overwatch via cloud streaming to anyone on any device, you can see just how exciting this deal really is.”

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The press also mentions that Game Pass has over 25 million subscribers around the world. This information comes after Spenser said that he was evaluating all aspects of Microsoft’s relationship with Activision in November. And the reports of sexual assault and workplace harassment allegations. He said that he “disturbed and deeply troubled by the horrific events and actions” at the company.

The transaction will be completed in the 2023 financial year, which is July 2022 to July 2023. Meanwhile until the acquisition is finalized, Activision will continue to operate as normal. The boards of directos from both companies approved the transaction.

Satya Nadella, Microsoft CEO, said on a conference call that the workplace controversies that were happening on Activision and it’s culture, he said: “[W]e believe it’s critical for the Activision Blizzard to drive forward on its renewed cultural commitments. We are supportive of the goal and the work Activision Blizzard is doing, and we also recognize that after close, we will have significant work to do in order to continue to build a culture where everyone can do their best work.”

Bobby Kotick said about the transaction: “As we thought about possible partners, all roads ultimately led to Microsoft. Microsoft has all the important technologies we need to deliver the next generation of games. And like Activision, Microsoft has a cultural passion for gaming that goes back to the 1980s. Microsoft’s culture of inspiring people through caring and empathy is a powerful motivator, and one we embrace as we renew our resolve in the work we’re now doing to set a new standard for a welcoming and inclusive workplace culture.”

When the transaction is completed, Microsoft will be the third-largest gaming company worldwide, followed by Tencent and Sony.

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