The news: Xbox parent company Microsoft reported that it was acquiring video game maker Activision Blizzard for $68.7 billion in cash, making it the biggest acquisition in gaming.
Before the deal was announced yesterday, Activision Blizzard’s shares had slumped more than 37%—due to allegations of management sexually harassing employees—after it had reached a record high last year, per Reuters.
Why it's worth watching: Microsoft buying the Call of Duty, Warcraft, and Overwatch maker adds to its cache of gaming properties, which now includes Minecraft maker Mojang and various other studios.
The bigger picture: As businesses prepare for their future platform, subscription service, and metaverse strategies, acquisition of intellectual property focused on exclusive access to titles and properties will continue to intensify.
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