Microsoft’s Activision Buy Highlights Push Toward Mobile, Metaverse

Microsoft Corp.’s $75 billion deal to buy Activision Blizzard Inc. reflects two trends driving consolidation in the videogame industry: the push to mobile and building for the metaverse.

News of the deal sent shares of Activision and other videogame makers higher. Activision rose 26%, its largest percent increase since 1995, and closed as Tuesday’s best performer in the S&P 500. Electronic Arts Inc. had its biggest percentage jump since November.