In a historic deal, Microsoft has announced its acquisition of video game publisher Activision Blizzard for $68.7 billion. This acquisition consolidates a wide range of businesses delivering everyday technologies under the tech giant’s roof.

The acquisition will accelerate the growth in Microsoft’s gaming business across mobile, PC, console and cloud and will provide building blocks for the metaverse. The EU has approved Microsoft’s proposed $69 billion acquisition of Activision Blizzard subject to remedies offered by Microsoft.

Activision Blizzard is a leader in game development and interactive entertainment content publishing. The planned acquisition includes iconic franchises from the Activision, Blizzard and King studios like “Warcraft,” “Diablo,” “Overwatch,” “Call of Duty” and “Candy Crush,” in addition to global eSports activities through Major League Gaming.

With three billion people actively playing games today, gaming is now the largest and fastest-growing form of entertainment. Microsoft’s acquisition of Activision Blizzard is sure to have a major impact on the future of gaming.

Bobby Kotick will continue to serve as CEO of Activision Blizzard, and he and his team will maintain their focus on driving efforts to further strengthen the company’s culture and accelerate business growth. Once the deal closes, the Activision Blizzard business will report to Phil Spencer, CEO, Microsoft Gaming.

“Gaming is the most dynamic and exciting category in entertainment across all platforms today and will play a key role in the development of metaverse platforms,” said Satya Nadella, chairman and CEO, Microsoft. “We’re investing deeply in world-class content, community and the cloud to usher in a new era of gaming that puts players and creators first and makes gaming safe, inclusive and accessible to all.”

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