It has been officially announced, Microsoft will acquire Activision Blizzard.

Microsoft has announced that. The deal would cost $68.7 billion, the most expensive purchase in the game industry ever. It is clear that the deal is not yet fully closed at this point – that would not happen until 2023. Until then, both companies will continue to operate separately from each other. The plan is to offer as many Activision Blizzard games as possible via Xbox Game Pass when the deal is finalized.

Activision Blizzard has been under fire since last year for persistent toxic and sexually harassing behavior in the workplace. According to reports, Activision Blizzard CEO Bobby Kotick has known about the situation for years and has not done enough to change the situation. Kotick remains appointed as CEO.

Xbox head Phil Spencer said he was evaluating the working relationship with Activision Blizzard late last year. The CEO may have already hinted at the purchase at the time.

Activision Blizzard owns some of the biggest franchises in the game industry, including Call of Duty, Candy Crush, Tony Hawk’s Pro Skater, Diablo, Overwatch, Warcraft, Spyro, and Crash Bandicoot. The company includes studios such as Activision, Blizzard, High Moon Studios, Infinity Ward, Sledgehammer Games, Toys for Bob, Treyarch and King.

Microsoft has bought several other game companies in recent years, including Minecraft maker Mojang, Obsidian and the parent company of Bethesda.