Microsoft to Acquire Activision Blizzard for $68.7 Billion

Microsoft announced today that it plans to acquire game developer Activision Blizzard for $68.7 billion. The acquisition is expected to accelerate the growth in Microsoft’s gaming business across mobile, PC, console and cloud and will provide building blocks for the metaverse. Activision Blizzard produces many popular games including Call of Duty, World of Warcraft, Overwatch, Diablo, StarCraft, and Candy Crush.

Microsoft will acquire Activision Blizzard for $95.00 per share, in an all-cash transaction valued at $68.7 billion, inclusive of Activision Blizzard’s net cash. When the transaction closes, Microsoft will become the world’s third-largest gaming company by revenue, behind Tencent and Sony. The planned acquisition includes iconic franchises from the Activision, Blizzard and King studios like “Warcraft,” “Diablo,” “Overwatch,” “Call of Duty” and “Candy Crush,” in addition to global eSports activities through Major League Gaming. The company has studios around the word with nearly 10,000 employees.




Bobby Kotick will continue to serve as CEO of Activision Blizzard. After the acquisition is finalized he will report to Phil Spencer, CEO, Microsoft Gaming.

“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 Satya Nadella, chairman and CEO, Microsoft. “We’re investing deeply in world-class content, community and the cloud to usher in a new era of gaming that puts players and creators first and makes gaming safe, inclusive and accessible to all.”

“Players everywhere love Activision Blizzard games, and we believe the creative teams have their best work in front of them,” said Phil Spencer, CEO, Microsoft Gaming. “Together we will build a future where people can play the games they want, virtually anywhere they want.”

“For more than 30 years our incredibly talented teams have created some of the most successful games,” said Bobby Kotick, CEO, Activision Blizzard. “The combination of Activision Blizzard’s world-class talent and extraordinary franchises with Microsoft’s technology, distribution, access to talent, ambitious vision and shared commitment to gaming and inclusion will help ensure our continued success in an increasingly competitive industry.”


Microsoft plans to launch Activision Blizzard games into Game Pass, which now has over 25 million subscribers. Activision Blizzard has nearly 400 million monthly active players in 190 countries. Its addition will strengthen and diversify Game Pass' offering. Once the deal is complete, Microsoft will have a total of thirty internal game development studios.

The transaction is subject to the usual closing conditions and regulatory review. It's expected to close in fiscal 2023.