RajkotUpdates News : microsoft gaming company to buy activision blizzard for rs 5 lakh crore

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rajkotupdates.news : microsoft gaming company to buy activision blizzard for rs 5 lakh crore:Microsoft has confirmed that it will acquire Activision Blizzard for a staggering $68.7 billion, making it the biggest acquisition in the history of the gaming industry. To put the amount in perspective, the deal is worth about Rs 5,12,000 crore or Rupees five lakh twelve thousand crores in Indian currency.

The all-cash deal was announced by Microsoft on the day of the confirmation, following which both Microsoft’s gaming division Xbox and Activision released statements that they plan to work together for future games. Microsoft claims that once the deal closes, it will become the world’s third-largest gaming company by revenue, trailing only Tencent and Sony.

For those who may be unfamiliar, Activision Blizzard is the parent company of Activision, a US-based video game developer responsible for popular titles like “Warcraft,” “Diablo,” “Overwatch,” “Call of Duty,” and “Candy Crush.” Given the titles and regular eSports activities conducted by it, Activision is hugely popular among the gaming community.

Activision currently has studios around the world and employs approximately 10,000 people. After the acquisition, Bobby Kotick will continue to serve as CEO of Activision Blizzard, and the company will operate as usual, with a focus on accelerating business growth. Reporting of the Activision Blizzard business will be to Phil Spencer, CEO, Microsoft Gaming.

Microsoft says that it expects the deal to close in fiscal year 2023, subject to customary closing conditions and “completion of regulatory review and Activision Blizzard’s shareholder approval.”

The acquisition is expected to have several implications for gamers. Microsoft has revealed that it plans to expand its presence in the smartphone gaming market with the help of Activision Blizzard. It even hinted at bringing franchises like “Halo” and “Warcraft” to mobile phones in the future, relying on Activision’s earlier success with mobile games like “Candy Crush” to acquire the mobile gaming segment.

Furthermore, Microsoft looks to expand the gaming titles under its Xbox Game Pass and PC Game Pass with the takeover. Phil Spencer, CEO of Microsoft Gaming, said that the company would aim to add “as many Activision Blizzard games” as it can within the two subscription services.

The acquisition will also accelerate Microsoft’s plans for Cloud Gaming, with Activision’s widely acclaimed franchises expected to attract more users. Microsoft plans to encourage “more people in more places around the world to participate in the Xbox community” using the company’s various platforms, which it will continue to support after the takeover.

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Mike Brown
Mike Brownhttps://www.storifynews.com/
Mike Brown is an News Editor at Storify News Times - Understand the Breaking News He is an India journalist lives in California, United States. He has worked at several news networks in his career. He specialises in reporting about editorial, advertising and general management topics for World News Publishing Focus, as well as contributing content to the website.

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