Microsoft to acquire the Activision Blizzard for $68.7 billion

According to a news statement, the acquisition allows Microsoft, the creator of Xbox, to get a foothold in both the mobile gaming and metaverse spaces.

Call of Duty, StarCraft, Candy Crush, and other well-known properties are all part of Activision Blizzard.

The Wall Street Journal reported in November that Activision Blizzard CEO Bobby Kotick was aware of years of sexual misconduct allegations.

The California Department of Fair Employment and Housing is now suing the corporation for failing to pay women equally and for its "frat male working culture."

In September, the business agreed to pay the Equal Employment Opportunity Commission $18 million to resolve a lawsuit alleging harassment and discrimination against female employees.

Employees at Activision Blizzard have been so unhappy with Kotick's handling of these crises over the years that they have frequently asked him to resign.

Kotick will continue to lead Activision Blizzard as CEO, according to the press statement.

"Once the purchase is completed, the Activision Blizzard company will report to Phil Spencer, CEO of Microsoft Gaming," according to the press release.

Microsoft told IGN that while Kotick would stay CEO for the time being, Activision Blizzard will report to Spencer once the transfer is complete.