maker Activision Blizzard for $68.7 billion in the biggest gaming industry deal in history as global technology giants stake their claims to a virtual future.
“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 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 the Xbox maker on lawmakers’ radars, said Andre Barlow of the law firm Doyle, Barlow & Mazard PLLC.However, a source familiar with the matter said Microsoft would pay a $3 billion break-fee if the deal falls through, suggesting it is confident of winning antitrust approval.
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. 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.
Microsoft’s offer equates to 18 times Activision’s 2021 earnings before interest, tax, depreciation and amortisation . That compares with the 16 times EBITDA valuation of “Grand Theft Auto” maker Take-Two Interactive’s cash-and-shares deal for Zynga last week.
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