Microsoft Buys Activision Blizzard for Nearly $69 Billion
Microsoft acquires the troubled gaming giant Activision Blizzard in a massive all-cash deal to boost its mobile and cloud gaming capabilities.
Microsoft announces a massive $68.7 billion all-cash deal to acquire gaming giant Activision Blizzard, the company behind blockbuster franchises like "Call of Duty" and "Candy Crush." This landmark purchase elevates Microsoft to the position of the world's third-largest gaming company by revenue, trailing only behind Tencent and Sony.
The tech giant plans to use this acquisition to accelerate its growth across mobile, PC, console, and cloud gaming. Microsoft CEO Satya Nadella emphasizes that gaming plays a crucial role in the development of metaverse platforms, and this deal provides essential building blocks for that virtual future.
This major business move occurs while Activision Blizzard faces severe ongoing accusations of fostering a workplace culture of sexual harassment and gender discrimination. Despite these significant controversies, Microsoft moves forward with the $95 per share transaction to dramatically expand its entertainment portfolio.