18 Jan 2022
Microsoft to Buy Activision Blizzard for $68.7 Billion
The Index Today
Microsoft on Tuesday signed a deal to purchase Activision Blizzard for a record $68.7 billion in cash. Activision Blizzard is a notable videogame maker known for prominent games such as Candy Crush and Call of Duty.
While the sale pushes Microsoft to the forefront of the metaverse, it is also a cause for concern among lawmakers in Washington DC who are striving to police and control the power wielded by tech giants like Microsoft.
However, Microsoft’s shares dropped by 1% since the announcement made it to the front pages of international news. This can possibly be attributed to the fact that the company’s purchase of the videogame firm which has gained notoriety for a toxic workplace culture marked by discrimination and sexual harassment, has not been met with much favourable response among the public.
According to Microsoft CEO Satya Nadella, “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.”
This deal will afford Microsoft access to Activision’s gaming users (approx. 400 million) and its acclaimed video games which will help the tech company foot its mark in the metaverse.