• Disclosure
  • Privacy Policy
  • DMCA Policy
  • CCPA
  • Medical Disclaimer
Friday, June 9, 2023
Cameron County News Online
  • Home
  • News
  • Business
  • Technology
    • Crytpocurrency
    • Gaming
    • Gadgets
  • Sports
  • Health
  • General
    • Business Services
  • Travel
  • Press Releases
  • Popular
No Result
View All Result
  • Home
  • News
  • Business
  • Technology
    • Crytpocurrency
    • Gaming
    • Gadgets
  • Sports
  • Health
  • General
    • Business Services
  • Travel
  • Press Releases
  • Popular
No Result
View All Result
No Result
View All Result
Home Technology Gaming

Microsoft To Gobble Up Activision In $69 Billion Metaverse Bet – Reuters

by NewsReporter
January 18, 2022
in Gaming
Reading Time: 4 mins read
microsoft-to-gobble-up-activision-in-$69-billion-metaverse-bet-–-reuters
Share on FacebookShare on Twitter

The Microsoft logo is seen in front of characters from Activision Blizzard games. REUTERS/Dado Ruvic/Illustration

Register now for FREE unlimited access to Reuters.com

Jan 18 (Reuters) – Microsoft Corp (MSFT.O) is buying “Call of Duty” maker Activision Blizzard (ATVI.O) for $68.7 billion in the biggest gaming industry deal in history as global technology giants stake their claims to a virtual future.

The all-cash deal announced by Microsoft on Tuesday, its biggest-ever acquisition, will bolster its firepower in the booming videogaming market where it takes on leaders Tencent (0700.HK) and Sony (6758.T).

It also represents the American multinational’s bet on the “metaverse”, virtual online worlds where people can work, play and socialize, as many of its biggest competitors are already doing. read more

Register now for FREE unlimited access to Reuters.com

“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,” Microsoft Chief Executive Satya Nadella said.

Microsoft’s offer of $95 per share represents a premium of 45% to Activision’s Friday close. Its shares were up 27% at $83.35 in early trading, still a steep discount to the offer price, reflecting concerns the deal could get stuck in regulators’ crosshairs.

Microsoft has so far avoided the type of scrutiny faced by Google and Facebook but this deal, which would make it the world’s third largest gaming company, will put them on lawmakers’ radars said Andre Barlow of the law firm Doyle, Barlow & Mazard PLLC.

“Microsoft is already big in gaming,” he said.

The tech major’s shares were down 0.7% in early trading.

The deal comes at a time of weakness for Activision, maker of games such as “Overwatch” and “Candy Crush”. Before the deal was announced, its shares had slumped more than 37% since reaching a record high last year, hit by allegations of sexual harassment of employees and misconduct by several top managers.

The company is still addressing those allegations and said on Monday it had fired or pushed out more than three dozen employees and disciplined another 40 since July.

CEO Bobby Kotick, who said Microsoft reached out to him for a possible buyout, would continue to be the CEO of Activision following the deal.

In a conference call with analysts, Microsoft boss Nadella did not directly refer to the scandal but talked about the importance of culture in the company.

“It’s critical for Activision Blizzard to drive forward on its renewed cultural commitments,” he said, adding “the success of this acquisition will depend on it.”

‘METAVERSE ARMS RACE’

The global gaming market was valued at $173.70 billion in 2021, and is expected to grow to $314.40 billion by 2027, according to research firm Mordor Intelligence.

Microsoft can already claim a significant beachhead in the sector as one of the big three console makers. It has been making investments including buying “Minecraft” maker Mojang Studios and Zenimax in multi-billion dollar deals in recent years.

It has also launched a popular cloud gaming service, which has more than 25 million subscribers.

Executives talked up Activision’s 400 million monthly active users as one major attraction to the deal and how vital these communities could play in Microsoft’s various metaverse plays.

Activision’s library of games could give Microsoft’s Xbox gaming platform an edge over Sony’s Playstation, which has for years enjoyed a more steady stream of exclusive games.

“The likes of Netflix have already said they’d like to foray into gaming themselves, but Microsoft has come out swinging with today’s rather generous offer, which would make Microsoft the third largest gaming company in the world,” said Sophie Lund-Yates, equity analyst at Hargreaves Lansdown.

Tech companies from Microsoft to Nvidia have placed big bets on the so-called metaverse, with the buzz around it intensifying late last year after Facebook renamed itself as Meta Platforms to reflect its focus on its virtual reality business.

“This is a significant deal for the consumer side of the business and more importantly, Microsoft acquiring Activision really starts the metaverse arms race,” David Wagner, Equity Analyst and Portfolio Manager at Aptus Capital Advisors said.

“We believe the deal will get done,” he said, but cautioned: “This will get a lot of looks from a regulatory standpoint.”

Register now for FREE unlimited access to Reuters.com

Additional reporting by Ankur Banerjee, Eva Mathews and Uday Sampath in Bengaluru, Kenneth Li in New York, Diane Bartz in Washington, Supantha Mukherjee in Stockholm; Writing by Pravin Char; Editing by Anil D’Silva and Carmel Crimmins

Our Standards: The Thomson Reuters Trust Principles.

Related Posts

russia-ukraine-war-news:-live-updates-on-moskva-warship-–-the-new-york-times

Russia-Ukraine War News: Live Updates On Moskva Warship – The New York Times

by NewsReporter
April 14, 2022
0

European officials are drafting the most contested measure yet to punish Moscow for its invasion of Ukraine, an embargo on Russian oil products — a move long resisted because of its enormous costs for Germany and its potential to disrupt politics around the region and increase energy prices.The growing consensus...

at-deals:-razer-huntsman-elite-gaming-keyboard-now-just-$120-–-anandtech

AT Deals: Razer Huntsman Elite Gaming Keyboard Now Just $120 – AnandTech

by NewsReporter
April 14, 2022
0

Razer’s Huntsman Elite gaming keyboard has been marked down to one of its lowest prices to date. This full-sized gaming keyboard has a going rate of $160 but right now it’s available for just $120 at Amazon. This discount saves users around $40, providing a selection of features which, according...

poland’s-cd-projekt-postpones-witcher-3-next-generation-release-indefinitely-–-us.-news-&-world-report

Poland’s CD Projekt Postpones Witcher 3 Next-Generation Release Indefinitely – U.S. News & World Report

by NewsReporter
April 14, 2022
0

(Reuters) - Polish video game maker CD Projekt has taken back in-house and postponed indefinitely the release of its blockbuster game "The Witcher 3: Wild Hunt" for next-generation consoles.The version, which was originally scheduled to launch late last year and was then delayed to second quarter of 2022, was outsourced...

tencent-to-block-chinese-gamers’-access-to-foreign,-unapproved-games-–-yahoo-news

Tencent To Block Chinese Gamers’ Access To Foreign, Unapproved Games – Yahoo News

by NewsReporter
April 14, 2022
0

By Josh YeHONG KONG (Reuters) - Tencent Holdings Ltd said it will shut down a service that allowed Chinese gamers to access overseas platforms to play unapproved foreign games, in a sign of tightening compliance as Chinese regulators more closely scrutinize the industry.The country's largest social and gaming firm said...

Cameron County News Online

© 2021 Salt Lake City News Now

Navigate Site

  • Disclosure
  • Privacy Policy
  • DMCA Policy
  • CCPA
  • Medical Disclaimer

Follow Us

No Result
View All Result
  • Home
  • DMCA Policy
  • Medical Disclaimer
  • Privacy Policy
  • Disclosure
  • CCPA
  • Terms of Use

© 2021 Salt Lake City News Now

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT