Microsoft buys game maker Activision Blizzard for about $70B

Microsoft is paying nearly $70 billion for Activision Blizzard, the maker of Candy Crush and Call of Duty.

The deal comes as Microsoft is trying to boost its competitiveness in mobile gaming and virtual-reality technology.

The all-cash $68.7 billion deal will turn the maker of the Xbox gaming system into one of the world’s largest video game companies.

It will also help Microsoft compete with tech rivals such as Meta — formerly Facebook — in creating immersive virtual worlds for both work and play.

If the deal survives scrutiny from U.S. and European regulators in the coming months, it also could be one of the priciest tech acquisitions in history.

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