Microsoft to acquire Activision Blizzard for nearly $70bn

Microsoft is buying Activision Blizzard in the biggest ever takeover and a major shakeup for the gaming industry.

The Xbox maker will pay $68.7bn in cash for the game designer, in a move partly aimed at the future of gaming and the metaverse.

The purchase is just the latest game designer to be purchased by Microsoft as it looks to expand its control of games and consoles.

It will turn Microsoft into the third-largest gaming company by revenue, it said, behind Tencent and Sony, and it now has 30 internal game development studios.

Sign up to our free newsletters by clicking here