Microsoft’s $69 billion acquisition of Activision Blizzard has taken from the board one of the few remaining large pure-play videogame publishers trading on the Nasdaq. The resulting scarcity is good news for shares of Take-Two Interactive Software and Electronic Arts.
But now that the deal has closed, Microsoft’s success could embolden other big technology companies seeking a better foothold in videogames. The research firm Newzoo estimates that the global games market will generate $187.7 billion in 2023 revenue. Take-Two and Electronic Arts would be the most obvious targets for a big tech suitor. Take-Two owns franchises like Grand Theft Auto, Red Dead Redemption, and NBA 2K. EA’s portfolio includes Madden NFL, EA Sports FC , The Sims, and Battlefield.
Though Nintendo isn’t likely to sell itself, Microsoft has pledged to bring Call of Duty games to Nintendo platforms. The stock would also benefit if valuations across the industry were higher.
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