Microsoft is set to acquire Activision Blizzard for $68.7 Billion. Activision Blizzard Inc., a leader in game development and interactive entertainment content publisher comes with an array of iconic franchises such as Call of Duty, Candy Crush, Diablo, Overwatch, Starcraft, and Warcraft in addition to global eSports activities through Major League Gaming. The studio has almost 10,000 employees worldwide.
This deal will see Microsoft becoming the world’s third-largest gaming company by revenue, behind Tencent and Sony. With Xbox Game Pass having 25 million subscribers this deal guarantees an upward trajectory. Microsoft’s gaming business across mobile, PC, console, and cloud will provide building blocks for the metaverse.
Bobby Kotick will continue to serve as CEO of Activision Blizzard. After the deal closes, the Activision Blizzard business will report to Phil Spencer, CEO of Microsoft Gaming.
Before the transaction closes, it will be subject to customary closing conditions and completion of regulatory review as well as Activision Blizzard’s shareholder approval.
Get more details about this deal from the full press release here.