By Young Earner Editors
Jan 19, 2022
Microsoft will acquire the American based video game company Activision Blizzard, Inc. for $68.7 billion or around 45 percent above the company's share price.
The acquisition will make Microsoft the world’s third-largest gaming company by revenue in the $173.3 billion global gaming industry which is expected to reach a value of $314.4 billion in 2027.
In a statement provided by Microsoft they describe the acquisition of Activision Blizzard as a way to "accelerate the growth in Microsoft’s gaming business across mobile, PC, console and cloud and will provide building blocks for the metaverse."
Microsoft Chief Executive Officer Satya Nadella further explains that "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."