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Earlier this month, Microsoft (MSFT) completed its $69 billion acquisition of video game company Activision Blizzard (ATVI). The tech giant reported mixed results for its gaming segments in its fiscal first-quarter earnings on Wednesday— gaming hardware revenue declined, but content/services and overall gaming revenues increased.
Nearly two years after the initial announcement, Microsoft has completed the largest deal in tech history.
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Analysts at UBS have updated their models for Microsoft Corporation (NASDAQ:MSFT) to account for its acquisition of Activision Blizzard Inc (NASDAQ:ATVI), which closed earlier this month, ahead of the company's first quarter fiscal 2024 earnings report due on Tuesday, October 24. “We're assuming that Microsoft will offer pro forma guidance to reflect the ATVI deal, obviously impacting the Gaming segment as well as the overall margin and cash flow outlook,” they wrote in a note to clients.
The deal took nearly two years to close. Activision is a highly profitable business.
Microsoft (MSFT) has gone through with its $69 billion acquisition of game developer Activision Blizzard (ATVI), bolstering the tech giant's already sizable occupancy in the gaming landscape. Yahoo Finance Tech Editor Dan Howley highlights what the monumental deal to offer Microsoft in the PC gaming landscape and future cloud gaming prospects, and how the company can capitalize on Activision's mobile gaming segment.
Microsoft Corp.'s protracted, circuitous bid to acquire Activision Blizzard Inc. not only changed the gaming market but most likely upended potential future moves by federal regulators to block vertical deals, a central tenet of their antitrust campaign against Big Tech in the past few years.
Shares of Microsoft (NASDAQ: MSFT ) have lagged the performance of other mega-cap technology concerns year to date. However, with several catalysts forming there is reason to be bullish on the company's stock.
Microsoft secured a swath of video game titles for Xbox when it acquired Activision Blizzard last week for $69 billion.
Phil Spencer, who joined Microsoft as an intern in 1988 and rose up to lead the games business, was instrumental in the Activision Blizzard purchase