Microsoft to make $68.7 billion acquisition of Raven Software parent company

Microsoft will acquire Activision Blizzard, the California-based parent company of Middleton’s Raven Software, for $68.7 billion, according to a release from Microsoft. The company says it will acquire Activision Blizzard for $95 per share in an all-cash transaction. Activision Blizzard has studios around the world with nearly 10,000 employees, including a few hundred at Raven Software in Middleton. The purchase will make Microsoft the world’s third-largest gaming company by revenue, behind Tencent and Sony.

The planned acquisition includes iconic franchises from Activision, Blizzard, and King studios like Warcraft, Diablo, Overwatch, Call of Duty, and Candy Crush, in addition to global eSports activities through Major League Gaming. Bobby Kotick will continue to serve as CEO of Activision Blizzard. The transaction is subject to regulatory review and Activision Blizzard’s shareholder approval. The deal is expected to close in fiscal year 2023.