Microsoft Acquires Activision Blizzard To Become Third Largest Gaming Company In The World
Tech giant Microsoft has announced plans to acquire Activision Blizzard, the sixth-largest video game publisher in the world with a portfolio of iconic game series such as Call of Duty, Warcraft, Diablo, Overwatch and Candy Crush.
On Tuesday, Microsoft announced plans to acquire the video game publishing and developing company Activision Blizzard in an all-cash transaction valued at $68.7 billion, or at $95 per share. The acquisition will make Microsoft, which already produces the Xbox console series and owns a variety of video game developers as its subsidiaries, the third-largest gaming company by revenue, behind only Tencent and Sony.
IT'S OFFICIAL: Microsoft has acquired Activision Blizzardhttps://t.co/ddzJ9J8xfD pic.twitter.com/4Cx9attlOC
— Nibel (@Nibellion) January 18, 2022
Players everywhere love Activision Blizzard games, and we believe the creative teams have their best work in front of them. Players everywhere love Activision Blizzard games, and we believe the creative teams have their best work in front of them.
The news follows a turbulent year for Activision Blizzard, as in 2021, a long history of sexual harassment and work culture problems at the company came to the public's attention, with the company facing a massive backlash and lawsuit brought on by the state of California.
The news came as a surprise to many, with users rushing to social media to share their reactions, discuss the news and post some memes about the acquisition.
He is now the legal property of Microsoft Corporation https://t.co/1wkLbxL6jM pic.twitter.com/Qmw8lH1ufA
— Austin (@Afghanistanczyk) January 18, 2022
— (Not) YouTube Kids (@RealYouTubeKids) January 18, 2022
— axel (@pixel_axel) January 18, 2022
Now fire the Blizzard CEO out of a cannon and be done with him https://t.co/nGmbpOpbST
— Saberspark (@Saberspark) January 18, 2022
The deal is expected to close in the fiscal year 2023.
Although the press release issued by Microsoft states that Bobby Kotick, the current CEO at Activision Blizzard, will remain in his position after the deal, with Activision Blizzard business reporting to Microsoft Gaming CEO Phil Spencer, The Wall Street Journal later reported that, according to its sources, Kotick is expected to depart one the deal closes.
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