CALIFORNIA (FOXBusiness): Microsoft is buying Activision Blizzard Inc., the maker of ‘Call of Duty’ and ‘Candy Crush’, in a deal worth $68.7 billion, the companies announced on Tuesday.
The software giant will pay $95.00 per share for the video game maker, in an all-cash transaction making Microsoft the world’s third-largest gaming company by revenue, behind Tencent and Sony.
“Gaming is the most dynamic and exciting category in entertainment across all platforms today and will play a key role in the development of metaverse platforms,” said Microsoft CEO Satya Nadella. “We’re investing deeply in world-class content, community and the cloud to usher in a new era of gaming that puts players and creators first and makes gaming safe, inclusive and accessible to all.”
Deal to make Microsoft world’s third-largest gaming company
Activision has 400 million monthly active players in 190 countries and three billion-dollar franchises
Top titles include “Warcraft,” “Diablo,” “Overwatch,” “Call of Duty” and “Candy Crush”
About 10,000 employees to be woven into Microsoft
Source: Activision, Microsoft
Activision CEO Bobby Kotick, who has been under pressure amid allegations of running a workplace fraught with misconduct, will remain CEO of the game-maker.
Once the deal closes, the unit will fall under Phil Spencer, CEO of Microsoft gaming.
The deal is expected to close in fiscal year 2023.