Microsoft has announced the acquisition of Activision Blizzard, taking control of the company in a $68.7 billion USD deal. According to the terms of the deal, Miicrosoft is paying $95 USD per share for Activision Blizzard best known as the company behind Call of Duty and Overwatch. This represents a 45% premium on Activision’s Friday close price.
The deal now means that Microsoft is the world’s third-largest gaming company by revenue, behind Tencent and Sony. Additionally, Activision’s library will bolster Xbox’s gaming platform and Microsoft’s Game Pass portfolio with exclusive games and releases.
Announcing the record-breaking deal, 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.”
In other business news, LVMH Luxury Ventures has invested in New York-based Aimé Leon Dore.