Game On: Microsoft’s Activision Deal Ignites M&A Talk in Rivals
- Gaming stocks EA, Ubisoft rally after the deal announcement
- Falling valuations, metaverse theme seen driving M&A in sector
Photographer: Alex Pantling/Getty Images
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Global gaming stocks rallied after Microsoft Corp.’s landmark $69 billion takeover bid for Activision Blizzard Inc., a move that could help enliven the sector after a cranky start to 2022.
U.S. rivals Electronic Arts Inc., Take-Two Interactive Software, France’s Ubisoft Entertainment SA and Poland’s CD Projekt SA all rose on Tuesday, with some talked-up as potential acquisition targets. The recent selloff in their shares and rising interest in gaming and the metaverse from large companies such as Meta Platforms Inc. has raised expectations for more deals in the industry.