Microsoft buys Activision Blizzard for nearly $69 billion
The world’s largest software maker Microsoft plans to acquire Activision Blizzard Inc., one of the industry's most legendary publishers and the maker of World of Warcraft, Call of Duty, and Diablo. The deal is currently valued at $68.7 billion.
The acquisition is not approved yet, and Activision Blizzard comes with its own issues that could make the regulatory approval process more complicated. The gaming giant has lately been heavily criticized by its employees for its workplace culture while the CEO of Activision Blizzard Bobby Kotick is facing accusations of sexual harassment. However, Mr. Kotick is reported to continue serving as the CEO only until the deal closes. Once it is done, the Activision Blizzard business will report to Phil Spencer.
With its Xbox series being amongst the all-time best-selling consoles, Microsoft already plays an important role in the gaming industry. Nevertheless, Microsoft plans to accelerate its mobile, PC, console and cloud gaming as well as get ready for the adoption of the metaverse.
"Gaming is the most dynamic and exciting category in entertainment across all platforms today and will play a key role in the development of metaverse platforms," Microsoft chairman and Chief Executive Satya Nadella stated.
