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Home»News»Microsoft Announces Plans to Acquire Activision Blizzard Inc for $68.7 Billion
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Microsoft Announces Plans to Acquire Activision Blizzard Inc for $68.7 Billion

Veronica AlfredBy Veronica Alfred3 Mins Read
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Microsoft Announces Plans to Acquire Activision Blizzard Inc for $68.7 Billion
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Microsoft Corp. announced plans to acquire Activision Blizzard Inc on the 18th of January, 2022. They will pay $95.00 per share for a total valuation of $68.7 billion. The entire transaction is all-cash, including Activision Blizzard’s net cash.

Gaming is the largest and fastest-growing entertainment, with more than $200 billion in market value. Statistically, the overall number of video game releases in 2021 was up 64% from 2020, and 51% of players in the United States reportedly spend more than 7 hours per week playing on consoles, PCs, and mobile devices. While globally, about 3 billion people play games currently, with 4.5 billion expected by 2030.

Microsoft Announces Plans to Acquire Activision Blizzard Inc for $68.7 Billion

Mobile gaming is the most popular industry, with approximately 95 percent of all players worldwide using their phones to play games. Microsoft plans to have this acquisition help the game company grow across mobile, PC, console, and cloud platforms.

After the acquisition, Microsoft will become the world’s third-largest gaming company after Tencent and Sony. “Warcraft,” “Diablo,” “Overwatch,” “Call of Duty,” and “Candy Crush,” which are among the legendary franchises from Activision, Blizzard, and King studios, will be acquired, as well as global eSports operations through Major League Gaming. Nearly 10,000 people work in the company’s studios all over the world.

Microsoft stated that its acquisition of Activision Blizzard, the leading game developer and publisher of interactive entertainment content, will enable gamers to enjoy the most immersive franchises, such as “Halo” and “Warcraft,” anywhere they desire, thanks to excellent teams and outstanding technology.

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The company also announced plans to launch Activision Blizzard games in Game Pass, which has surpassed a new milestone of over 25 million members. The acquisition will provide Game Pass, which has approximately 400 million monthly active gamers in 190 countries and three billion-dollar brands, with one of the industry’s most compelling and diverse lineups of gaming content. Also, Microsoft will have 30 internal game development studios and publishing and e-sports production capabilities when the deal closes.

Microsoft stated that Bobby Kotick would continue to lead Activision Blizzard as CEO in the official statement. He and his team will continue to focus on strengthening the company’s culture and accelerating business growth. After the transaction is completed, the Activision Blizzard business will report to Phil Spencer, Microsoft Gaming’s CEO.

The boards of directors of Microsoft and Activision Blizzard have approved the acquisition, which is anticipated to complete in 2023. Microsoft’s financial advisor is Goldman Sachs & Co. LLC, while its legal counsel is Simpson Thacher & Bartlett LLP. Activision Blizzard’s financial advisor is Allen & Company LLC, while legal counsel is Skadden, Arps, Slate, Meagher & Flom LLP.

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Veronica Alfred

    Veronica Alfred is a budding Technical Writer whose specialty is creating content on topics such as: tech news, reviews, start-ups and fin-tech. An manga lover, anime freak, Kpop addict and a self-proclaimed music and movie critic.

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