Microsoft to buy Activision Blizzard for video games for $69 billion

Microsoft buys video game companies.

In a statement to Microsoft on Tuesday, Microsoft said that it had agreed with Activision Blizzard, the producer of the famous “Call of Duty” game, for an amount of $ 68.7 billion in cash, and this news is one of the largest deals in the electronic games sector, and this makes the owner of the Xbox platform the third largest company. Games by revenue.

Microsoft buys video game company, Activision Blizzard, for a whopping $69 billion.

Microsoft offered $95 per share for Activision, which is about 45 percent more than Activision's closing price on Friday. Where the stock was traded on Friday, closing at about $89.55 per share.

Microsoft CEO Satya Nadella said in a statement last Tuesday that games are the most active and profitable category in the field of e-commerce and have a great activity in the field of entertainment across all electronic platforms and will play a major role in the development of future Metaverse platforms, which will be the largest field in the future.

And the demand for video games has increased during the Corona pandemic, with consumers forced during the isolation and closure procedures to play more entertaining games for themselves.

Activision's game library - which includes Call of Duty and Overwatch - also gives the Xbox, Microsoft's gaming platform, an edge over Sony's PlayStation, which has for years been blessed with a torrent of exclusive games.

"Bobby Kotik" will continue in his current role as CEO of Activision Blizzard, but under the management of Microsoft in accordance with the agreement signed between them.

Competitor gaming company Take-Two Interactive said a week ago that it would buy Zynga, maker of FarmVille, for more than $11 billion, but the payment will be divided into two parts, partly in cash and partly in stock.