Microsoft Acquires Activision Blizzard in $68.7 Billion All-Cash Deal

Microsoft is about to buy Activision Blizzard in a $68.7 billion all-cash deal.

On Tuesday, Microsoft announced it purchased the video game holding company in a whopping $68.7 billion all-cash deal. The news comes after the company made headlines over the past few months after some of the company’s executives were accused of sexual misconduct and harassment. NBC News reports that dozens of Activision execs were terminated following an investigation.

Despite being called out and asked to resign, Activision Bobby Kotick will stay on as the company’s CEO. He will reportedly answer to Microsoft’s Xbox superior Phil Spencer.

Microsoft may now be over some of Activision’s most well-known games like Tony Hawk’s Pro Skater, Call of Duty, Candy Crush, World of Warcraft and more.

According to CNBC, shares for Microsoft dropped by more than 2 percent after the announcement.