Microsoft confirm shock Activision Blizzard buyout
Microsoft have shocked the gaming world with a planned buyout of Activision Blizzard for a reported $70 billion, following a difficult period for the developer’s leadership.
This news comes in the aftermath of Activision Blizzard being hit by multiple lawsuits afterallegations were made regarding their workplace environmentwhich led to company walkouts and a drop in share prices. Bloomberg reporter Jason Schreier shared some information about the shock deal on January 17, citing a report from the Wall Street Journal. Bloomberg states the landmark acquisition values Blizzard at $70 billion. He said: “The WSJ reports that Microsoft is buying Activision Blizzard, the troubled publisher behind Call of Duty and World of Warcraft, which has been facing crisis over the last year following numerous reports of sexual misconduct and discrimination.” https://twitter.com/jasonschreier/status/1483428774591053836 The “seismic gaming deal”, as Jason puts it, represents a massive power shift in the industry.
Microsoft confirms Activision Blizzard takeover
Soon after,Microsoft confirmed the dealand the company’s ambitions. On their official website, the company stated: “Today, Microsoft Corp. announced plans to acquire Activision Blizzard Inc., a leader in game development and interactive entertainment content publisher. “This acquisition will accelerate the growth in Microsoft’s gaming business across mobile, PC, console, and cloud and will provide building blocks for the metaverse.” Satya Nadella, Chairman and CEO of the Microsoft Corporation, said this marks “a new era” in gaming to make it “safe, inclusive, and accessible to all”. https://twitter.com/satyanadella/status/1483431765616119809 Bobby Kotick, CEO of Activision Blizzard, confirmed the takeover will be completed inJune 2023.
“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 Nadella. “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.”
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Explaining why Microsoft was the ideal suitor, he added: “In considering possible partners, all roads ultimately lead to Microsoft. Like us, they have been making games for a long time. Microsoft has already distributed games to hundreds of millions of the world’s computers and computing devices and has technologies and innovation that will support the next generation of games.”
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Included in the email, sent out across the company, Kotick reaffirmed his commitment to Activision Blizzard. “Transactions like these can take a long time to complete. Until we receive all the necessary regulatory approvals and other customary closing conditions are satisfied, which we expect to be sometime in Microsoft’s fiscal 2023 year ending July 18, 2025, we will continue to operate completely autonomously.
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