– On Thursday, Activision Blizzard Inc said that its shareholders had approved Microsoft Corp’s $68.7 billion offer to buy the producer of “Call of Duty.”
According to the Santa Monica, California-based corporation, more than 98 percent of the shares voted in a special meeting earlier in the day were in support of the proposed deal.
As global technology titans stake their claims to a virtual future, Microsoft announced in January that it had agreed to buy Activision Blizzard for $95 per share in the largest game industry deal in history.
Activision, which has been chastised for its response to charges of internal sexual harassment and discrimination against female employees, failed first-quarter adjusted sales projections on Monday, owing to low demand for its latest game “Call of Duty: Black Ops III.”
Gaming is now the largest and fastest-growing type of entertainment, with three billion people actively playing games today, propelled by a new generation versed in the joys of interactive entertainment. Microsoft Corp. (Nasdaq: MSFT) announced today that it will buy Activision Blizzard Inc. (Nasdaq: ATVI), a leading game developer and publisher of interactive entertainment content. This acquisition will help Microsoft’s game business grow across mobile, PC, console, and cloud platforms, as well as supply metaverse building blocks.
Microsoft will pay $95.00 per share for Activision Blizzard in an all-cash deal for $68.7 billion, including Activision Blizzard’s net cash. Microsoft will overtake Tencent and Sony as the world’s third-largest gaming firm by revenue if the deal is completed.
In addition to worldwide eSports activities through Major League Gaming, the projected acquisition includes legendary franchises from Activision, Blizzard, and King studios like “Warcraft,” “Diablo,” “Overwatch,” “Call of Duty,” and “Candy Crush.” The corporation employs almost 10,000 people in studios all over the world.
Bobby Kotick will continue to lead Activision Blizzard as CEO, and he and his team will continue to focus on strengthening the company’s culture and accelerating business growth. The Activision Blizzard business will report to Phil Spencer, Microsoft Gaming’s CEO, after the transaction is completed.
