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Microsoft to buy Activision Blizzard for $68.7 billion "to bring the joy"

The gaming industry gets shaken up as Microsoft announces the acquisition of Activision Blizzard for $68.7 billion.
Microsoft to buy Activision Blizzard for $68.7 billion "to bring the joy"
Microsoft has just closed its biggest acquisition deal till date by buying Activision Blizzard for $68.7 billion after the publisher of popular Call of Duty, World of Warcraft and Candy Crush franchises suffered heavy losses due to the lawsuit.

It will be an all-cash deal, and with this acquisition, Microsoft plans to accelerate the growth in the company's business across mobile, PC, console and cloud. 

Not only this, but this deal will make Microsoft the world’s third-largest gaming company by revenue after Tencent and Sony. 

Microsoft to buy Activision Blizzard for $68.7 billion "to bring the joy"
Microsoft will be bringing a bunch of Activision Blizzard games in Xbox Game Pass. (Picture: Microsoft)

“Players everywhere love Activision Blizzard games, and we believe the creative teams have their best work in front of them,” said Phil Spencer, CEO of Microsoft Gaming. “Together we will build a future where people can play the games they want, virtually anywhere they want.”

Microsoft also has plans to bring a lot of games to the Xbox Game Pass, making it more appealing for players across the world. 

 

Bobby Kotick, the CEO of Activision Blizzard, said, “the combination of Activision Blizzard’s world-class talent and extraordinary franchises with Microsoft’s technology, distribution, access to talent, ambitious vision and shared commitment to gaming and inclusion will help ensure our continued success in an increasingly competitive industry.”

In addition to this, according to him, this acquisition will also help them create a more welcoming and inclusive workplace culture and as we all know that has been a major issue at the company.

Microsoft to buy Activision Blizzard for $68.7 billion "to bring the joy"
Hopefully the "frat boy culture" will end now in the company after the deal with Microsoft. (Picture: Activision Blizzard)

The transaction, however, is yet to be made and is "subject to customary closing conditions and completion of regulatory review and Activision Blizzard’s shareholder approval." However, it has been approved by Microsoft and Activision Blizzard board of directors and is expected to close in the fiscal year 2023.

As of now, there is no information about if Bobby Kotick will stay the CEO of the publishing house or not, but it seems like he will stay with the team as of now.

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Featured image courtesy of GINX Esports TV.