Microsoft buys Activision Blizzard for $68.7 billion; Real wages in the UK fall in the cost of living crisis – as it happened | Business
Just now: Microsoft is buying computer game developer Activision Blizzard in a blockbuster $68.7 billion deal.
Microsoft has announced it will pay $95 per share in cash for Activision Blizzard, the company behind “Call of Duty,” a 45% bonus, in the software giant’s biggest acquisition ever.
Microsoft says the deal will make it the world’s third-biggest gaming company by revenue, behind Tencent and Sony. It will accelerate the growth of its gaming business across mobile, PC, console, and cloud — and provide “building blocks for the metaverse,” he says.
Planned acquisition will give Microsoft popular game franchises such as “Warcraft”, “Diablo”, “Overwatch”, “Call of Duty” and “Candy Crush”, as well as global esports business through Major League Gaming .
satya nadella, Chairman and CEO of Microsoft, Explain :
“Gaming is the fastest growing and most exciting entertainment category on any platform today and will play a key role in the development of metaverse platforms.
“We are investing deeply in world-class content, community and cloud to usher in a new era of gaming that puts players and creators first and makes gaming safe, inclusive and accessible to everyone.”
Activision Blizzard has faced increasing pressure over its response to allegations of sexual misconduct within the company, including sexual harassment, sexual assault and gender discrimination.
Last November, employees staged a strike to protest the company’s handling of the allegations, which are being investigated by US regulators, and shareholders called on CEO Bobby Kotick to step down.
Yesterday, Activision Blizzard said it had fired or expelled more than three dozen employees and disciplined 40 others since July to address allegations of sexual harassment and other misconduct at the video game company.
Microsoft today announced that Kotick will continue to serve as CEO of Activision Blizzard, and that he and his team “will continue to focus on efforts to further strengthen the company’s culture and accelerate the growth of the company”.
Once the deal is done, the Activision Blizzard business will report to Phil Spencer, CEO of Microsoft Gaming.