Microsoft Corporation is buying Activation Blizzard, known as the maker of “Call of Duty” for $68.7 billion marking the biggest gaming industry deal in history.
The deal was announced by Microsoft on Tuesday as its biggest ever and set to be largest all-cash acquisition on record.
This marks Microsoft’s bet on “metaverse” world which is a virtual online world where people work, play and socialize.
“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,” Microsoft Chief Executive Satya Nadella said.
“It’s critical for Activision Blizzard to drive forward on its renewed cultural commitments,” he said, adding “the success of this acquisition will depend on it.”
