Microsoft’s nearly $70 billion deal for Activision Blizzard is largest of the pandemic

Microsoft's purchase of Activision Blizzard gives it access to blockbuster games including Call of Duty and Candy Crush.Microsoft Corp. is spending $69 billion on the biggest cash-funded takeover since the start of the coronavirus pandemic with its purchase of Activision Blizzard Inc.

Buying Activision will eat away at a big chunk of Microsoft’s cash pile, which stood at $131 billion at the end of September, Bloomberg-compiled data show. The transaction will create the world’s third-biggest video game company and extend Microsoft’s capabilities in the metaverse, a nascent category encompassing immersive digital worlds that’s seen as the next big thing in computing.

Activision disclosed last year that it was being investigated by the Securities and Exchange Commission over complaints of workplace discrimination. That was after California sued the Santa Monica-based company in July, citing a “frat boy” culture that had become “a breeding ground for harassment and discrimination against women.”

Last year, Microsoft spent $7.5 billion to acquire ZeniMax Media, the parent company of video game publisher Bethesda Softworks, which is behind popular video games The Elder Scrolls, Doom and Fallout.

*$75 billion.

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