Microsoft plans to acquire Activision Blizzard for $68.7 billion in the biggest gaming industry deal in history as it looks to expand its gaming business and position in the metaverse.

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The technology giant announced on Tuesday that it would acquire the videogame publisher for $95 a share in an all-cash transaction that values Activision at $68.7 billion. The per-share bid represents a 45% premium to Friday’s closing price of $65.39.

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It’s amazing news for gamers, as Microsoft plans to add both new and old Activision Blizzard games to Xbox Game Pass and PC Game Pass, from its popular franchises including Warcraft, Diablo, Overwatch, StarCraft, Call of Duty, and even Candy Crush.

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With the acquisition of Activision Blizzard, Microsoft will likely play a big part in the emerging metaverse. "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 chairman and CEO Satya Nadella.
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Once the deal closes, Microsoft will become the world’s third-largest gaming company by revenue, behind China’s Tencent and Sony.

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