Activision Blizzard (ATVI) – Shares were up more than 30% Tuesday morning following news Microsoft (MSFT) will buy the company for $95 per share in cash, or about a $70 billion deal.
Roblox (RBLX) – A play on the metaverse. The stock was up 2% in sympathy following the Microsoft/Activision Blizzard news. The Microsoft/Activision Blizzard press release highlighted the deal as providing “building blocks for the metaverse.”
Sony (SONY) – Shares were down about 3% amid competition fears following the Microsoft/Activision Blizzard deal. Sony’s PlayStation video game console is a direct competitor to Microsoft’s Xbox console.
Zynga (ZNGA) – A play on mobile gaming. The Microsoft/Activision Blizzard press release noted the deal will “empower players to enjoy the most-immersive franchises, like “Halo” and “Warcraft,” virtually anywhere they want.”
CF Acquisition Corp. V (CFV) – The company reported private equity firm founded and led by former US Secretary of Treasury, Steve Mnuchin, Liberty Strategic Capital, made a $150 million investment in the company’s special purpose acquisition corporation (SPAC) merger partner, Satellogic.