Microsoft is set to acquire Activision Blizzard -- publisher of Call of Duty -- for $68.7 billion in an all-cash deal.
Microsoft announced the deal Tuesday.
"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 chairman 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."
Microsoft will become the world's third-largest gaming company by revenue, behind Tencent and Sony.
In addition to Call of Duty and Overwatch, Microsoft now gets franchises Warcraft, Diablo and Candy Crush under its brand.
The acquisition comes in the aftermath of several crises within Activision Blizzard over the past year. The company has faced numerous reports of sexual misconduct and discrimination.
--Field Level Media