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Microsoft to Buy Activision Blizzard For $68.7 Billion

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Microsoft  (MSFT) - Get Microsoft Corporation Report reached a deal to buy Activision Blizzard  (ATVI) - Get Activision Blizzard Inc Report for $68.7 billion or $95.00 per share. 

On Tuesday, Microsoft made the announcement calling the deal will "bring the joy and community of gaming to everyone, across every device."

"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 Microsoft CEO Satya Nadella.

Bobby Kotick will continue serving as CEO of Activision Blizzard.

"The combination of Activision Blizzard's world-class talent and extraordinary franchises with Microsoft's technology… will help ensure our continued success in an increasingly competitive industry.” - Activision CEO Bobby Kotick

If the deal is completed, buying Activision Blizzard will mark Microsoft’s largest acquisition in the company’s history.

Activision Blizzard stock is down nearly 28% in the last year amid a  months-long probe into allegations of sexual harassment at the video game making group.

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