How Should Sony PlayStation Respond To Microsoft Xbox Acquiring Activision Blizzard?
707#Xbox #ActivisionBlizzard
Microsoft Corp. said it’s buying Activision Blizzard Inc. in a $68.7 billion deal, uniting two of the biggest forces in video games to create the world’s third-biggest gaming company.
In its largest purchase ever, Microsoft will pay $95 a share in cash for one of the most legendary gaming publishers, known for titles like Call of Duty and World of Warcraft but which is also grappling with a cultural upheaval over its treatment of women. Activision Chief Executive Officer Bobby Kotick will continue to serve in that role, Microsoft said. Once the deal closes, the Activision Blizzard business will report to Phil Spencer, who heads Microsoft Gaming. The deal value includes Activision’s net cash.
Adding Activision’s stable of popular titles will help Microsoft expand its own offerings for the Xbox console and better compete with rival Sony Corp.’s PlayStation. Activision has a long history with the Xbox. The publisher’s largest franchise, Call of Duty, became successful largely due to Microsoft’s online platform Xbox Live, which allows players to connect for multiplayer matches. Most of Activision’s games are published on Xbox consoles.
“Acquiring Activision will help jump start Microsoft’s broader gaming endeavors and ultimately its move into the metaverse with gaming the first monetization piece of the metaverse,” Dan Ives, an analyst at Wedbush Securities, wrote in a note to investors. “With Activision’s stock under heavy pressure (CEO related issues/overhang) over the last few months, Microsoft viewed this as the window of opportunity to acquire a unique asset that can propel its consumer strategy forward.”
Microsoft’s shares slid about 1.3% in early trading on the news. The bid is a 45% premium on Activision’s closing price Friday. However, it’s a bargain compared with the stock’s performance in the first half of last year, before a sexual bias lawsuit filed by a California state agency in July plunged the company into crisis. The shares hit a high of more than $100 apiece in February and then lost nearly half their value by the end of the year.
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