Microsoft acquiring Activision Blizzard in $68.7B gaming deal

Software giant Microsoft has agreed to purchase Activision Blizzard, a major acquisition valued at $68.7 billion that combines many major studios under one entity.

Announced on Tuesday, the deal with see Microsoft acquire Activision Blizzard for $95 per share in an all-cash transaction. The $68.7 billion valuation is inclusive of Activision Blizzard's net cash.Once completed, the acquisition will turn Microsoft into the world's third-largest gaming company by revenue, behind Tencent and Sony. Bobby Kotik will continue to operate as CEO of Activision Blizzard, and will report to Microsoft Gaming CEO Phil Spencer.

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