Microsoft To Buy Activision Blizzard, Creating World's No.3 Gaming Company - Statement

The boards of Microsoft and Activision Blizzard have agreed to the software giant purchasing the major computer games company, a deal that would create the third largest gaming conglomerate by revenue in the world, Microsoft said on Tuesday

WASHINGTON (UrduPoint News / Sputnik - 18th January, 2022) The boards of microsoft and Activision Blizzard have agreed to the software giant purchasing the major computer games company, a deal that would create the third largest gaming conglomerate by revenue in the world, Microsoft said on Tuesday.

"Today, Microsoft Corporation announced plans to acquire Activision Blizzard, a leader in game development and interactive entertainment content publisher," the press release said. "When the transaction closes, Microsoft will become the world's third-largest gaming company by revenue, behind Tencent and Sony."

Microsoft will acquire Activision Blizzard for $95 per share, in an all-cash transaction valued at $68.

7 billion, including Activision Blizzard's net cash.

"The planned acquisition includes iconic franchises from the Activision, Blizzard and King studios like 'Warcraft,' 'Diablo,' 'Overwatch,' 'Call of Duty' and 'Candy Crush,' in addition to global eSports activities through Major League Gaming. The company has studios around the word with nearly 10,000 employees," the release said.

Bobby Kotick will continue to serve as CEO of Activision Blizzard and will report to Phil Spencer, CEO, Microsoft Gaming. Activision Blizzard has nearly 400 million monthly active players in 190 countries and franchises worth nearly $3 billion. The deal is expected to close in fiscal year 2023, according to the release.