Microsoft buys video game company for $69 billion


New York (Reuters) – She said Microsoft Corporation On Tuesday, it will acquire Activision Blizzard, the maker of the “Call of Duty” game, for $68.7 billion in cash, in the biggest deal in the electronic games sector, making the Xbox owner the third-largest gaming company by revenue.
Microsoft’s bid was $95 per share, a 45 percent premium to Activision’s closing Friday. Activision’s stock was trading at about $89.55 before the start of official trading.
“Games are the most active and exciting category in entertainment across all platforms today and will play a key role in the development of the Metaverse platforms,” ​​Microsoft CEO Satya Nadella said in a statement.
The demand for video games has increased during the Corona pandemic, with consumers forced during the isolation and closure procedures to play more entertaining games for themselves.
Activision’s library of games, which includes Call of Duty and Overwatch, also gives Microsoft’s gaming platform an edge over Sony’s PlayStation, which has for years been blessed with a torrent of exclusive games.
Bobby Kotik will continue to serve as CEO of Activision Blizzard under the acquisition agreement.
Rival games company Take Two Interactive said last week that it would buy FarmVille maker Zynga for $11.04 billion in cash and stock.




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