Did Microsoft buy Activision?

Microsoft Buys Activision. What to Know About the Acquisition and Stocks. | Barron's Activision Blizzard shares were surging following Microsoft ‘s announcement that it would acquire the gaming company in a nearly $70 billion deal.

What happened to Activision Blizzard's stock?

Activision Blizzard’s stock shot up more than 30% ahead of the market open Tuesday morning; Microsoft shares fell around 1.5%. Gaming has become a major point of focus for Microsoft in recent years, especially as the pandemic meant more people were staying home and using gaming systems.

Who is the new CEO of Activision Blizzard?

Bobby Kotick will continue to serve as CEO of Activision Blizzard, and he and his team will maintain their focus on driving efforts to further strengthen the company’s culture and accelerate business growth. Once the deal closes, the Activision Blizzard business will report to Phil Spencer, CEO, Microsoft Gaming.

Did Microsoft hammer out a deal with Activision?

Microsoft did, beginning a weekslong sprint to hammer out an agreement. As part of its due diligence, Microsoft looked into the workplace accusations and determined that they were largely in the past, and that the controversy was manageable. That said, Kotick is expected to step down as Activision’s chief once the deal closes.