Pinho, Paulo Soares deXaver, Arthur Frederik2025-01-272025-01-272024-05-312023-12-20http://hdl.handle.net/10362/177950The following case study focuses on Microsoft's acquisition of Activision Blizzard for 68.7 billion USD, marking a milestone in the video gaming industry. Announced in January 2022, the takeover strengthens Microsoft’s strategic market position and is aligned with its growth ambitions in cross-platform video gaming, cloud gaming, and metaverse. In the light of mixed reactions among Microsoft’s shareholders, however, the acquisition comes with controversy. This case study addresses opportunities, synergies potentials, concerns, and risks associated with the deal and ultimately explores the possible value creation for Microsoft’s shareholders. It is accompanied by an industry report and a teaching note, outlining how the case study might be taught.engMergers and acquisitionsShareholder valueSynergiesStrategyVideo gaming industrymaster thesis203724445