Friday , 17 May 2024
Home Global Economy 70 billion dollars: Microsoft acquires video game provider Activision Blizzard
Global Economy

70 billion dollars: Microsoft acquires video game provider Activision Blizzard

Microsoft is acquiring video game provider Activision Blizzard in a deal worth almost $70 billion. The software giant behind the Xbox gaming console is thus securing popular games such as “Call of Duty”, “Overwatch” and “Candy Crush”.

Microsoft CEO Satya Nadella justified the investment by saying that games are “the most dynamic and exciting category in entertainment across all platforms. They will play a key role in the development of future platforms, so it is investing in world-class content, the community and the cloud to usher in a new era of gaming that puts gamers and creators first and where gaming is safe, inclusive and accessible to all.”

Microsoft is offering $95 a share of Activision Blizzard – a hefty premium to the $65.39 closing price on US stock exchanges on US trading day. The previous Activision Blizzard boss should remain at the helm of the game company, although he had come under criticism in recent months after allegations of sexual harassment and discrimination against employees.

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