Microsoft Corp said on Tuesday it was acquiring"Call of Duty" videogame maker Activision Blizzard for $68.7 billion in cash, the biggest deal in the sector that would help the Xbox maker become the third-largest gaming company by revenue.
"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 Chief Executive Officer Satya Nadella said in a statement. Activision's library of games such as"Call of Duty" and"Overwatch" gives Microsoft's Xbox gaming platform an edge over Sony's Playstation, which has for years enjoyed a more steady stream of exclusive games.
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