Microsoft has completed perhaps the biggest coup in gaming history.
The tech giant is buying out Activision Blizzard for a reported fee of €58 billion.
In a statement released on Tuesday, Phil Spencer, CEO at Microsoft Gaming said "As a team, we are on a mission to extend the joy and community of gaming to everyone on the planet. We all know that gaming is the most vibrant and dynamic form of entertainment worldwide and we’ve experienced the power of social connection and friendship that gaming makes possible."
"As we pursue that mission, it is incredibly exciting to announce that Microsoft has agreed to acquire Activision Blizzard."
The move has come as a surprise to those in the gaming industry and follows Microsoft's acquisition of Bethesda last March.
The deal, once closed, will become the largest in gaming history, meaning that Take-Two's buyout of Zynga earlier in January only held the title of the most expensive acquisition in gaming history for a week.
While the move has not been formally closed and will be subject to approval by American legislators, the deal has gigantic implications for the gaming industry.
As part of the deal, the likes of 'Call Of Duty', 'Overwatch', 'World Of Warcraft', 'Crash Bandicoot', and 'Spyro' will now be Xbox exclusive titles.
Microsoft's acquisition of Bethesda and Activision serve as a clear indicator that the console wars aren't ending any time soon, and with PlayStation still possessing a strong sales lead over Xbox, Microsoft has resorted to the nuclear option to gain ground.
The statement from Phil Spencer added "upon close, we will offer as many Activision Blizzard games as we can within Xbox Game Pass and PC Game Pass, both new titles and games from Activision Blizzard’s incredible catalogue."
"Until this transaction closes, Activision Blizzard and Microsoft Gaming will continue to operate independently. Once the deal is complete, the Activision Blizzard business will report to me as CEO, Microsoft Gaming."
"Around the world, there is no more exciting venue for fun and connection than video games. And there has never been a better time to play than right now. As we extend the joy and community of gaming to everyone, we look forward to welcoming all of our friends at Activision Blizzard to Microsoft Gaming," Spencer said.