Thursday, February 2, 2023
Exchmarket-728x98

Microsoft to become World’s Third-largest Gaming Company by revenue

Microsoft is already one of the leading companies in the booming e-sport field. To strengthen the grip in the gaming industry, which is growing exponentially day-by-day with the interactive engagement of new generation people, Microsoft Corp. acquires Activision Blizzard Inc. In case you are not aware, Activision Blizzard is a leader in game development and interactive entertainment content publisher. Candy Crush and the most popular battleground, Call of Duty are the two well-known franchises from Activision.

Microsoft acquires Activision Blizzard for $95.00 per share, in an all-cash transaction valued at $68.7 billion, inclusive of Activision Blizzard’s net cash. When the transaction closes, Microsoft will become the world’s third-largest gaming company by revenue, behind Tencent and Sony. The company has studios around the world with nearly 10,000 employees.

Bobby Kotick will continue to serve as CEO of Activision Blizzard, and he and his team will maintain their focus on driving efforts to further strengthen the company’s culture and accelerate business growth. Once the deal closes, the Activision Blizzard business will report to Phil Spencer, CEO, Microsoft Gaming.

MicrosoftGamingGLT 118 Microsoft to become World's Third-largest Gaming Company by revenue
Exchmarket-728x98

“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 Satya Nadella, chairman and CEO, Microsoft. “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.”

“Players everywhere love Activision Blizzard games, and we believe the creative teams have their best work in front of them,” said Phil Spencer, CEO, Microsoft Gaming. “Together we will build a future where people can play the games they want, virtually anywhere they want.”

“For more than 30 years our incredibly talented teams have created some of the most successful games,” said Bobby Kotick, CEO, Activision Blizzard. “The combination of Activision Blizzard’s world-class talent and extraordinary franchises with Microsoft’s technology, distribution, access to talent, ambitious vision and shared commitment to gaming and inclusion will help ensure our continued success in an increasingly competitive industry.”

In the end, this step will highly impact the mobile gamers as well as the subscribers of Microsoft’s Game Pass.

Source

- Advertisement -
Anupam Modak
Anupam Modak
A CS Engineer and Tech Enthusiast who likes to fiddle with the latest gadgets and tech happenings around the world.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related Articles

Bitdefender WW

Stay Connected

271FansLike
226FollowersFollow
195FollowersFollow

Hot Topics

Exchmarket-300x600

Latest Articles

Featured