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.
“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.
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.
Don't forget to check out our general video games section to stay updated with the latest industry news, guides, and much more.
Featured image courtesy of GINX Esports TV.