Microsoft announced Tuesday it will buy video game giant Activision Blizzard in a $68.7 billion all-cash deal.

Shares of Activision soared about 37% in pre-market trading before being halted after the Wall Street Journal first reported the deal.

Microsoft shares fell more than 2% following the announcement

Activision, which is known for popular games such as “Call of Duty” and “Tony Hawk’s Pro Skater,” has been mired in controversy for the last several months following reports of sexual misconduct and harassment among the company’s executives. On Monday, Activision said it fired dozens of executives after an investigation.

https://www.cnbc.com/2022/01/18/microsoft-to-buy-activision.html