Microsoft (NASDAQ: MSFT)  has agreed to purchase "Call of Duty" producer Activision Blizzard (NASDAQ: ATVI) for $68.7 billion, making the purchase Redmond's largest acquisition to date. The all-cash transaction at $95 per share marks a big bet on the metaverse, and includes Microsoft in the race to claim ownership of the booming gaming industry against other giants such as Tencent and Sony.