LOS ANGELES (CNS) - Microsoft is reportedly buying gaming company Activision Blizzard, which has been in turmoil over allegations of misconduct and unequal pay, for $68.7 billion, according to the Los Angeles Times.
The deal will give Microsoft ownership of games like ``Call of Duty'' and ``Candy Crush.'' It will also provide a path for Microsoft to increase its presence in the mobile gaming arena and the metaverse or virtual environments.
Activision CEO Bobby Kotick is expected to retain his role, according to the Times.
The news of the sale comes after reports of sexual misconduct and harassment among the company's executives. Activision, on Monday, said it fired dozens of executives after an investigation, according to a report on the CNBC website.
Kotick has faced calls to resign over the reports of misconduct and harassment.
Shares of Activision rose about 31% on the stock market this morning following the news of the deal. Microsoft shares fell nearly 2% following the announcement. CNBC reported it would be Microsoft's largest acquisition to date. Microsoft purchased LinkedIn in 2016 for $26.2 billion, according to CNBC.