Microsoft has announced a $68.7 billion deal to acquire video game developer Activision Blizzard. This will be Microsoft’s largest acquisition in history and the largest deal in the video game industry. Activision Blizzard shares rose to $65.39 on the news.

Activision Blizzard is one of the largest game and interactive entertainment content publishers. The company’s brand list includes the world-famous Call of Duty, Candy Crush, Warcraft, Diablo, Overwatch and Hearthstone. According to Microsoft, the deal will stimulate the growth of the company’s gaming business and will be the basis for creating a metaverse.