Microsoft has announced it will buy troubled developer and publisher Activision Blizzard.
The landmark acquisition is valued at around $68.7 billion, being bought out at $95 a share. It’s Microsoft’s biggest acquisition to date, and once the transaction closes it’ll make the company the world’s third-largest in gaming by revenue.
A statement from the gaming and software developer read: “Today, Microsoft Corp. announced plans to acquire Activision Blizzard Inc., a leader in game development and interactive entertainment content publisher. This acquisition will accelerate the growth in Microsoft’s gaming business across mobile, PC, console and cloud and will provide building blocks for the metaverse.”
Microsoft Gaming CEO Phil Spencer clarified that Bobby Kotick will continue in his position as CEO of Activision Blizzard for the time being, though staff will begin reporting to Spencer once the transaction closes. He also said that Xbox will “offer as many Activision Blizzard games as we can within Xbox Game Pass and PC Game Pass, both new titles and games from their catalogue.”
The news comes after Spencer said he was “evaluating all aspects” of Microsoft’s relationship with Activision Blizzard in November following months of sexual assault and workplace harassment allegations, adding that he was “disturbed and deeply troubled by the horrific events and actions” at the company.
More to come.