Microsoft buys gaming giant Activision Blizzard for $68 billion

Microsoft buys gaming giant Activision Blizzard for $68 billion

Microsoft buys games company Activision Blizzard for $68.7 billion, providing access to hit games like Call of Duty and Candy Crush.

The all-cash deal will allow Microsoft, maker of the Xbox gaming system, to accelerate mobile gaming and provide building blocks for the metaverse, or virtual environment.

The announcement comes Tuesday as Activision is still in turmoil over allegations of misconduct and unequal pay.

Microsoft CEO Satya Nadella said on a conference call with investors that “the culture of our organization is my number one priority” and that “it is essential for Activision Blizzard to advance its” commitments to improve its corporate culture.

Activision revealed last year that it was being investigated by the U.S. Securities and Exchange Commission over complaints of workplace discrimination.

Activision CEO Bobby Kotick will retain his role, and he and his team will continue to focus on efforts to further strengthen the culture of the Santa Monica, Calif., company and accelerate the company’s growth. business.

Tuesday’s deal follows Microsoft’s $7.5 billion acquisition of ZeniMax Media, the parent company of video game publisher Bethesda Softworks, the originator of popular video games, last year. Americans. The Elder Scrolls, Doom and Fall.

Microsoft said either way the deals will help bolster its Xbox Game Pass gaming subscription service.

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