Microsoft Announces Acquisition of Activision Blizzard
Jan 18, 2022 By MarketDepth
Microsoft Corp. (NASDAQ: MSFT) reported its plans to acquire Activision Blizzard Inc. (NASDAQ: ATVI) to accelerate growth in Microsoft’s gaming business across PC, mobile console and cloud. Microsoft will acquire Activision Blizzard for USD 95 per share in an all cash transaction valued at USD 68.7 Billion which is inclusive of Activision blizzard’s net cash.
Blizzard and King Studios Brands
The acquisition includes Blizzard and King studios brands such as Warcraft, Diablo, Overwatch, Call of duty and Candy Crush. “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 Satya Nadella, chairman and CEO, Microsoft. “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.”
“Players everywhere love Activision Blizzard games, and we believe the creative teams have their best work in front of them. Together we will build a future where people can play the games they want, virtually anywhere they want.”Phil Spencer, CEO, Microsoft Gaming
“For more than 30 years our incredibly talented teams have created some of the most successful games,” said Bobby Kotick, CEO, Activision Blizzard. “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.”
Shareholder Approval Still Pending
The transaction is subject to customary closing conditions which include completion of a regulatory review and Activision Blizzard’s shareholder approval. The deal is expected to close in fiscal 2023. The transaction has been approved by the board of both companies.