Microsoft spends $69 billion to buy the creator of Call of Duty and Candy Crush

Microsoft said it’s buying video game publisher Activision Blizzard for almost $69 billion, a price that makes it the richest U.S. tech deal in history.

“Gaming has been key to Microsoft since our earliest days as a company,” Nadella said in a note to employees. “Today, it’s the largest and fastest-growing form of entertainment, and as the digital and physical worlds come together, it will play a critical role in the development of metaverse platforms.”

Activision, which has a long history with Microsoft’s Xbox, will also help the software giant better compete with rival Sony Corp.’s PlayStation. Most of Activision’s games are designed to run on Xbox consoles most popular being Call of Duty. 55% of Activision’s operating profit came from the game Call of Duty.

Founded in 1979, Activision is home to some of the most popular game franchises in the world, including Candy Crush and Guitar Hero.