Microsoft is buying the gaming company Activision Blizzard for $68.7 billion, gaining access to blockbuster games like “Call of Duty” and ”Candy Crush.”
Microsoft will use the cash deal to help accelerate mobile gaming, and build blocks for the Metaverse (or virtual world).
Activision is still under turmoil due to allegations of misconduct, and unequal pay. Tuesday’s announcement comes as Activision prepares for the next day.
Microsoft CEO Satya Nadella said in a conference call with investors “the culture of our organization is my number one priority” and that “it’s critical for Activision Blizzard to drive forward on its” commitments to improve its workplace culture.
Activision revealed last year that it was under investigation by the Securities and Exchange Commission for workplace discrimination complaints.
Activision CEO Bobby Kotick will retain his role, and he and his team will maintain their focus on driving efforts to further strengthen the Santa Monica, California, company’s culture and accelerate business growth.
The deal Tuesday follows Microsoft’s $7.5 billion acquisition last year of ZeniMax Media, the parent company of video game publisher Bethesda Softworks, which is behind popular video games The Elder Scrolls, Doom and Fallout.
In both instances, Microsoft stated that it will use the deals to increase its Xbox Game Pass subscription.