Microsoft remains open to pursuing more acquisitions in the gaming sector, although a senior company official suggests it may take some time before another major deal is made. The tech giant’s most recent acquisition was the $75.4 billion purchase of Activision Blizzard, finalized in October 2023 after a lengthy regulatory battle. This deal, the largest in gaming history, also marked the biggest tech acquisition of its kind.
Despite completing this monumental deal, Microsoft is not ruling out further acquisitions. In a recent interview with Bloomberg, Phil Spencer, CEO of Microsoft Gaming, stated, "We definitely want to be in the market [for more acquisitions]." However, he emphasized that any future acquisitions would be driven by the desire to find teams, technology, and capabilities that complement Microsoft’s gaming vision. This approach suggests the company will continue focusing on strategic acquisitions that align with its broader goals in gaming.
That said, Spencer clarified that Microsoft has no "imminent" acquisition plans, especially ones on the scale of the Activision Blizzard purchase. The company is still in the process of integrating Activision Blizzard into its publishing business, a process that has already led to some layoffs. In 2024, Microsoft’s gaming division laid off over 2,000 employees, with some cuts affecting Activision Blizzard staff.
For now, Microsoft is also seeking to expand its gaming operations through partnerships, particularly with Chinese studios. Spencer highlighted collaborations, like the development of Age of Empires Mobile with TiMi Studio Group (a subsidiary of Tencent), as promising opportunities. While not acquisitions, these partnerships could help Microsoft strengthen its global reach.
Following the Activision Blizzard acquisition, Microsoft has become the third-largest game publisher globally by revenue, behind Tencent and Sony Interactive Entertainment. However, Spencer's comments signal that Microsoft is still open to pursuing growth through future acquisitions, though it may be a while before another big move is made.