As part of its push into the growing metaverse sector, Microsoft unveiled on Tuesday a US$68.7 billion acquisition plan for gaming behemoth Activision Blizzard.
“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,”
Then,Satya Nadella, chairman and CEO of Microsoft says in a statement.
Microsoft’s all-cash acquisition of the Fortune 500 corporation behind billion-dollar franchises like Call of Duty, Candy Crush. Then, and Warcraft is expected to propel Microsoft into third place in the US$174 billion gaming market. That’s, behind Tencent and Sony.
The metaverse has become a top priority for internet firms, to the point that Facebook. So, the near-US$900 billion social media behemoth, rebranded to “Meta” to focus on the metaverse.
The transaction is planned to finalize in fiscal year 2023, although regulatory approval is still pending.
On the Nasdaq Tuesday, Microsoft shares (MSFT) were down 2.43 percent, while Activision Blizzard (ATVI) was up 25.88 percent.
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