Microsoft acquired game company Activision-Blizzard in January this year for $68.7 billion. Microsoft representatives have said they will use Activision’s networking infrastructure to create the Xbox Metaverse.
Microsoft recognized that Activision-Blizzard was the perfect complement to its vision of the Metaverse – a digital interactive world that integrates the Internet, social networks, and gaming platforms. Activision-Blizzard has a rich arsenal of video games.
Microsoft is actively investing in the metaverse. The details of this initiative are not yet known, but the company confirmed that the latest acquisition would play a significant role in this. Microsoft has also increased its investment in the gaming industry, specifically in research and development in this area.
“Activision Blizzard is a leader in game development and publisher of interactive entertainment content. This acquisition will accelerate the growth of our gaming business across mobile, PC, consoles, and provide material for the metaverse,” Microsoft said in a new report published in the 10-K SEC.
The shareholders have approved the deal of both companies, and Microsoft expects the deal to close by the end of the fiscal year 2023. The FTC could approve the deal as early as this year. The approval process is underway, and Microsoft has recently submitted the required documents.
Meanwhile, the Xbox is doing well without the support of the metaverse. Microsoft made a record $16.2 billion from Xbox games this year.
