Since January 18th of this year, the subject of Acquisition of Activision Blizzard is always on the news sites, and it is not for less, after all it is the biggest purchase in the history of Microsoft for nearly 70 billion dollars. As it is something huge, the bureaucratic process for approval is also huge.
In Microsoft’s last quarter fiscal report, we had a few words about this business. Microsoft again said that the metaverse represents a huge opportunity to monetize billions of dollars. So imagine an interactive digital world that merges web browsers, social media and gaming platforms into one. It’s a dream come true for companies like Microsoft, who make billions every year from ads, licenses and video games.
This potential is why Microsoft is investing in the metaverse. The plans aren’t concrete yet, but the company has confirmed that it will use its $68.7 billion purchase of Activision-Blizzard to fuel its metaverse strategies.
Below, check out Microsoft’s latest words on the subject:
“Activision Blizzard is a leader in game development and a publisher of interactive entertainment content. the acquisition will accelerate the growth of our gaming business on mobile, PC, console and cloud and will provide building blocks for the metaverse“, Microsoft said in a new 10-K filing SEC filing.
The deal has been approved by the company’s shareholders and Microsoft expects the deal to close by the end of fiscal 2023 (if it remains uncontested or blocked by the FTC), but that’s a conservative estimate. The FTC may approve the agreement in 2022. The approval process is now underway and Microsoft has recently submitted the necessary documents.
Meanwhile, Microsoft has made a record of US$ 16.2 billion with Xbox games during FY22. The ecosystem of Xbox hardware, products and services Xbox is thriving even without the metaverse.