Microsoft said it will acquire American video game company Activision Blizzard in an all-cash transaction valued at $68.7 billion. When the transaction closes, Microsoft will become the world’s third-largest gaming company by revenue, behind Tencent and Sony. The acquisition includes iconic franchises from the Activision, Blizzard and King studios like 'Warcraft', 'Call of Duty' and 'Candy Crush'.