https://wccftech.com/microsoft-blasts-sonys-share-price-to-three-month-low-with-new-deal/

Software giant Microsoft Corporation's multi-billion dollar decision to acquire renowned video game developer Activision Blizzard is continuing to generate ripples across the technology and financial industries. Microsoft announced the deal yesterday, with a whopping price tag of $70 billion that is reflective of Activision's major role in the gaming industry. The deal will be financed only in cash, with no share exchanges as is often the case in similar transactions. Following its announcement, Sony Corporation, who is Microsoft's primary rival in the gaming console segment witnessed a share price bloodbath in Japan, with reports now suggesting that the announcement has put to rest to what has otherwise been a record share price appreciation run for the Japanese company.

The announcement made by the Redmond, Washington firm that rose to fame in the technology industry through its Windows operating system falls in line with Microsoft's aggressive approach to digital gaming. The company is moving as fast as it can to expand its Xbox Game Pass service that allows users to access gaming titles across multiple devices.