Microsoft announced on Tuesday a US$68.7 billion acquisition plan of gaming giant Activision Blizzard as part of its reach for the emerging metaverse market.

Fast facts

  • “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,” said Satya Nadella, chairman and CEO of Microsoft, in a statement.
  • Metaverse developments have become key priorities for tech giants, so much so that the near US$900 billion social media titan Facebook rebranded to “Meta” to focus on the metaverse.
  • The deal is expected to close in fiscal year 2023 but has yet to receive regulatory approval.