— Bloomberg
Technology giant Microsoft — perhaps best known for its Windows, Excel and PowerPoint software — is buying Activision Blizzard, a Southern California gaming pioneer. If you follow Wall Street, you understand the ebb and flow of dealmaking. Microsoft, worth US$2.3 trillion , gobbled up a smaller player in the gamer field. You know, “synergy” in corporate lingo.
Of course, we must also offer a real estate perspective: US$69bil would buy you nearly 88,000 existing California single-family homes at the 2021 median selling price of US$787,000 .Microsoft wants a bigger slice of an industry that entertains 3.25 billion people around the globe, players who spend US$180bil a year on video games.
It was a pioneer of third-party game development with founders who started working on their new products in, yes, a garage! But likely many fast-growth industries, expansion was too hot — and game-making businesses suffered for much of the 1980s. Activision paid US$19bil to acquire Blizzard in 2008 from Vivendi, renaming the merged entities Activision Blizzard.Microsoft may be better known to us older folks for its computer operating system or its suite of office software, but it’s been a player in gaming for over two decades.
But what began as primarily a gaming machine effort has since grown into a lucrative online gaming platform, the Xbox Game Pass subscription service.Gaming’s buzz is the “metaverse,” the as yet defined merging of real life, online life and entertainment that blossomed in the pandemic era.
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