fbpx
Tuesday, May 17, 2022
No menu items!

Microsoft to buy ‘Call of Duty’ maker for $68.7 bln in gaming push

Microsoft Corp said on Tuesday (January 18) it was acquiring “Call of Duty” videogame maker Activision Blizzard for $68.7 billion in cash, the biggest deal in the sector that would help the Xbox maker become the third-largest gaming company by revenue.

Microsoft’s offer of $95 per share is at a premium of 45% to Activision’s Friday (January 14) close. Shares of Activision were trading at $89.55 in trading before the bell.

“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,” Microsoft Chief Executive Officer Satya Nadella said in a statement.

Microsoft has been making big investments in gaming, scooping up “Minecraft” maker Mojang Studios and Zenimax in multi-billion dollar deals in recent years.

Activision’s library of games such as “Call of Duty” and “Overwatch” gives Microsoft’s Xbox gaming platform an edge over Sony’s Playstation, which has for years enjoyed a more steady stream of exclusive games.

The company is still addressing those allegations and said on Monday it had fired or pushed out more than three dozen employees and disciplined another 40 since July.

Bobby Kotick will continue to serve as CEO of Activision Blizzard.

The sector is consolidating with larger firms buying up smaller players in recent years.

(Production: Deborah Gembara)

Latest News

Mastercard trials paying with your face

You may not have to grab your wallet or phone to pay when you go to a...

Man shot dead in north Harris County

HARRIS COUNTY - Deputies are investigating after a man was shot and killed in north Harris County Monday night.

After NY supermarket massacre, investigators look for missed warning signs

An investigation into the shooting of more than a dozen people in Buffalo, New York, turned on Monday to whether early warning...

Amber Heard testifies Johnny Depp assaulted her on their honeymoon

"Aquaman" actor Amber Heard told jurors on Monday (May 16) that Johnny Depp slammed her against a wall and wrapped a shirt...

Super Blood Moon seen over the U.S.

In parts of the U.S., the moon took on a reddish orange appearance, dubbed a Super Blood Moon on Sunday (May 15)...

More Articles Like This