Microsoft buys Activision Blizzard for $68.7 billion

Microsoft is buying Activision Blizzard for $68.7 billion to gain access to blockbuster games including Call of Duty and Candy Crush.

The all-cash deal will let Microsoft accelerate mobile gaming and provide it building blocks for the metaverse, or a virtual environment. The deal comes as Activision shares have plummeted in the past year as the company faces allegations of misconduct and unequal pay.

Activision CEO Bobby Kotick will retain his role, and he and his team will maintain their focus on driving efforts to further strengthen the company’s culture and accelerate business growth.