Microsoft Corp has confirmed it will buy Call of Duty videogame maker, Activision Blizzard, for $68.7 billion (€60.4bn) in cash, making the Xbox manufacturer the third-largest gaming company by revenue.

Microsoft’s offer is a premium of 45 per cent to Activision share price last week. Shares of Activision were up nearly 38 per cent at $65.39 before being halted for news.

“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. Bobby Kotick will continue to serve as CEO of Activision Blizzard.

Activision’s library of games – including the Call of Duty series and team-based shooter Overwatch, as well as platforming icons Spyro the Dragon and Crash Bandicoot – could give Xbox an edge over Sony’s Playstation, which has previously enjoyed a more steady stream of exclusive games.

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Categories: Articles, Business, Games, M&A

Tags: Activision Blizzard, call of duty, edge, Microsoft, Playstation, xbox