- Activision Blizzard, Inc’s (NASDAQ:ATVI) Blizzard Entertainment closed the acquisition of the Boston-based studio Proletariat. The financial terms of the transaction remain undisclosed.
- The acquisition will help better serve players in the multiplayer online role-playing game World of Warcraft.
- “Over the next two years, we plan to hire hundreds of the best developers to serve the needs of our World of Warcraft players. The extraordinary team at Proletariat will be a key component of our talent acquisition efforts,” ATVI CEO Bobby Kotick said.
- Proletariat, founded in 2012 by industry veterans from Insomniac, Harmonix, and Turbine, has deep experience building MMORPGs and includes, among others, former lead designers of Asheron’s Call, Lord of the Rings Online, and Dungeons & Dragons Online.
- Proletariat began working with the World of Warcraft development team in May.
- Microsoft Corp (NASDAQ:MSFT) looks to acquire Activision Blizzard in an all-cash transaction valued at $68.7 billion.
- ATVI generated $642 million in operating cash flow and held $11.1 billion in cash and equivalents as of March 31.
- China’s gaming license approval list continues to miss gaming giants Tencent Holding Ltd (OTC:TCEHY) and NetEase, Inc’s (NASDAQ:NTES) games for reasons undisclosed.
- Recently NetEase postponed the release of Diablo Immortal in China indefinitely. Tencent expected lower gaming approvals and therefore focused on other domains.
- Price Action: ATVI shares traded higher by 0.55% at $78.29 on the last check Friday.
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