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Tech giant microsoft announced that it bought game editor activision blizzard for $69 billion. The record agreement gives the company the chance to benefit from several video game franchises for its metaverse initiative.
Software giant Microsoft has announced that it has completed a deal to purchase major game publisher Activision Blizzard. The purchase was done for a staggering $69 billion and is part of a bigger effort in the metaverse. The acquisition follows that previously done by microsoft when it acquired bethesda for 7.5 billion dollars.
Microsoft CEO Satya Nadella celebrated the acquisition over Twitter, saying that gaming is a key part of the growth of the metaverse,
“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.”
It is at this time that Microsoft purchased the company, and the transaction is expected to be completed in fiscal year 2023. This is the largest acquisition of the technological giant and the largest acquisition in the history of the game.
It is clear that microsoft is very eager to tackle metaverse, with his studio vortex working on it. Lucrative capture ips games means that Microsoft has a rich list of characters that it can bring into the metaverse.
Activision blizzard is best known for being the editor behind the popular duty series call, a series of games that often top the list of best-selling games of the year. It also publishes the popular mobile candy game, which in itself generates over $1 billion in revenue annually.
In 2021, reports uncovered widespread harassment within the company, who rocked the gaming industry. At the center of this controversy is CEO Bobby Kotick, and the incidents related to him and the company made fall the share price of the company.
At the center of this controversy is CEO Bobby Kotick, and incidents related to him and the company drove down the company's stock price.
The purchase seems like the first spark in what will be a protracted battle to gain an edge in the metaverse. Microsoft is far from the only tech company to be working on the new sphere of entertainment.
, formerly Facebook, is its main rival and is employing several strategies to become the major platform for virtual interactions. Apple is currently focusing on shorter experiences and is putting aside the metaverse for now, but has expressed some interest.
Expressed a certain interest. The next few years will be crucial in the development and growth of the metaverse. The gaming industry is also rapidly turning its attention to NFTs, though some have heavily criticized the idea.
