Microsoft to Acquire Activision Blizzard for $68.7 Billion

Microsoft announced an agreement to acquire Activision Blizzard, the publisher behind Call of Duty, World of Warcraft, and Candy Crush, in an all-cash deal valued at $68.7 billion.

The deal is Microsoft's largest acquisition to date and would make it the third-largest gaming company in the world by revenue, behind Tencent and Sony. Microsoft said the acquisition would bolster its Xbox Game Pass subscription service and accelerate its ambitions in mobile and metaverse gaming.

The announcement came just months after Activision Blizzard faced a wave of scrutiny over workplace culture, including a lawsuit filed by California's Department of Fair Employment and Housing. Microsoft Gaming CEO Phil Spencer said the company was committed to "cultivating a culture where everyone can do their best work."

The deal is expected to face extended regulatory review from antitrust authorities in the United States, the United Kingdom, and the European Union before it can close.