Last Updated on: 19th January 2022, 06:17 pm
Is Blizzard being acquired by Microsoft: It was announced this Tuesday that Microsoft acquires Activision Blizzard with a whole cash deal of $68.7 Billion Dollars. The software giant will now own all the renowned world game titles such as “World of Warcraft” and “Call of Duty”.
This event took place amid the allegations of sexual harassment on Activision Blizzard. Activision had a “Frat Boy” culture. Where men openly joke and talk about their sexual encounters, Objectify women’s bodies. California’s Department of Fair Employment and Housing (DFEH) filed a lawsuit against Activision.
Also Read: Video game maker Activision sued over “frat boy” work culture that tormented women – CBS News
We are joining the @Xbox family.
Learn what this means for our iconic games and player communities: https://t.co/abPxlb37kA pic.twitter.com/Z8sVgsjScz
— Activision Blizzard (@ATVI_AB) January 18, 2022
Microsoft to pay 95$ per share in the form of cash transactions. This represents the premium of 43% to Activision’s closing stock price on Friday of 65$. The share price of Blizzard went to 83$ this Tuesday morning.
This deal will make Microsoft, the maker of XBOX into one of the world’s largest video game companies. Microsoft can now compete with virtual world giants “Meta” formerly Facebook. This achievement would mark the biggest ever in tech history.
Also Read: All the Games Coming to Xbox Game Pass in January 2022, Including Mass Effect
Microsoft Acquires Activision Blizzard The Impact On Gaming Industry:
According to industry observers, the mega-merger might spark a wave of mergers as video gaming businesses seek to join forces with larger technological giants. Mid-scale game publishers will find it difficult to compete with massive tech giants, which will give rise to further consolidation,” analysts with investment bank Raymond James said in a report, noting the focus on the emerging “metaverse.”
As the big media and tech companies realize the reach and the growth gaming drives, we hope to see further M&A in the space.
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