Since his 2014 promotion into the technology titan’s corner office, Nadella has embarked on a pricey shopping spree. It started with the $2.5 billion acquisition of the company behind the hit game Minecraft. Later, Microsoft bought LinkedIn for $26 billion and the speech recognition and artificial intelligence software developer Nuance for $20 billion. Activision Blizzard was by far the largest disclosed target, at $69 billion.
With a market value 13 times that of Netflix, as of early December, $1.8 trillion Microsoft can afford Netflix. A 30% premium would value the Netflix enterprise at nearly $190 billion.