Activision Blizzard ATVI

Media & TelecomMarket cap $69B3 connections

Activision Blizzard makes Call of Duty, World of Warcraft, Candy Crush, and Overwatch - Microsoft acquired it for $69B in 2023 after an 18-month regulatory battle across the US, UK, and EU. These franchises now strengthen Xbox Game Pass dramatically. Call of Duty alone generates $3B+ annually. The deal transformed Microsoft into the third-largest gaming company by revenue.

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Partners 2

Strategic partnerships, joint products and alliances

SonyConsumer & Retail · $95BCompeting gaming platforms and publishers
Electronic ArtsTechnology · $35BCompeting gaming publishers

Owned by 1

Companies with a stake in Activision Blizzard

MicrosoftTechnology · $2.8T$69B acquisition completed 2023since 2023

Key relationships in depth

Activision Blizzard & Microsoft

Microsoft completed its $69B acquisition of Activision Blizzard in October 2023, the largest acquisition in gaming history. Activision's portfolio includes Call of Duty, World of Warcraft, Diablo, and mobile giant King (Candy Crush). The acquisition added $9B in annual gaming revenue and significantly strengthened Xbox Game Pass.

Why it matters: Gaming is Microsoft's second-largest consumer revenue segment after Office. The acquisition of Call of Duty, one of the top three video game franchises by annual revenue, gives Game Pass a flagship title competing directly with PlayStation exclusives. Microsoft's stated goal is to become the Netflix of gaming through Game Pass subscription growth.

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Relationships are compiled by VexMap from company filings, announcements and reporting, and last reviewed September 2026. Spotted something wrong? Tell us. Not investment advice.