On this announcement Satya Nadella, chairman and CEO, Microsoft said, “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. 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.” Microsoft will pay $95.00 per share for Activision Blizzard in an all-cash deal for $68.7 billion, including Activision Blizzard’s net cash. The deal is subject to standard closing conditions, including regulatory clearance and shareholder approval from Activision Blizzard. The transaction is planned for completion in the fiscal year 2023 and will be non-GAAP earnings per share accretive at that time. Both Microsoft and Activision Blizzard’s boards of directors have given their approval for the deal. According to the tech giant Microsoft, Bobby Kotick will continue to lead Activision Blizzard as CEO, and he and his team will continue to focus on strengthening the company’s culture and accelerating business development. The Activision Blizzard company will report to Phil Spencer, Microsoft Gaming’s CEO after the transaction is completed. “Players everywhere love Activision Blizzard games, and we believe the creative teams have their best work in front of them,” said Phil Spencer, CEO, Microsoft Gaming. “Together we will build a future where people can play the games they want, virtually anywhere they want.” After the acquisition, Microsoft will become the world’s third-largest gaming firm by revenue, behind Tencent and Sony. With plans to launch Activision Blizzard games inside Game Pass, the acquisition strengthens Microsoft’s Game Pass catalogue. As per the company, the acquisition will provide Game Pass with one of the most engaging and diversified lineups of gaming content in the business, thanks to Activision Blizzard’s over 400 million monthly active gamers in 190 countries and billion-dollar franchises. After the deal is completed, Microsoft will have 30 internal game development studios, as well as extra publishing and esports production capabilities. Mobile gaming is the most popular, with approximately 95 percent of all gamers worldwide using their phones to play games. Microsoft and Activision Blizzard will enable gamers to experience the most immersive titles, such as “Halo” and “Warcraft,” The company believes Activision Blizzard’s mobile business, with games like “Candy Crush,” provides a substantial presence and opportunity for Microsoft in this fast-growing area. For the latest gadget and tech news, and gadget reviews, follow us on Twitter, Facebook and Instagram. For newest tech & gadget videos subscribe to our YouTube Channel. You can also stay up to date using the Gadget Bridge Android App. You can find the latest car and bike news here.
