Xbox maker Microsoft is set to buy Activision Blizzard for a record $69 billion.
The firm has agreed to buy the Call of Duty firm for a whopping $68.7 billion, or $95 per share. That's a 45 per cent premium on the $65.39 stock price that Activision Blizzard had prior to this acquisition being announced.
This is the largest acquisition in video game history.
“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 chair and CEO Satya Nadella said.
“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.”
Xbox boss Phil Spencer added: “Players everywhere love Activision Blizzard games, and we believe the creative teams have their best work in front of them. Together we will build a future where people can play the games they want, virtually anywhere they want.”
This is the latest acquisition that Microsoft has made in recent years and follows in its $7.5 billion purchase of Bethesda parent company Zenimax.