Activision Blizzard was formed in 2008 through the merger of Activision (founded 1979) and Vivendi Games, which controlled Blizzard Entertainment. For years it operated as the Western world’s largest pure-play gaming company before Microsoft acquired it in 2023 for $68.7 billion.
The Activision side of the business is dominated by Call of Duty, one of the highest-grossing entertainment franchises in history. The series has generated over $30 billion in lifetime revenue. Call of Duty: Modern Warfare III and Warzone continue to pull in massive player numbers and microtransaction revenue.
Blizzard Entertainment, founded in 1991, created some of PC gaming’s most iconic franchises. World of Warcraft, launched in 2004, peaked at 12 million subscribers and defined the MMORPG genre. StarCraft became a national sport in South Korea. Diablo IV launched in 2023 and sold over 10 million copies in its first five days. Overwatch pioneered the hero-shooter genre and built a short-lived esports league.
King, the mobile gaming division acquired by Activision in 2016 for $5.9 billion, produces Candy Crush Saga, which continues to generate billions in annual revenue and remains one of the top-grossing mobile games worldwide.
The company faced significant controversy in 2021 when California’s Department of Fair Employment and Housing filed a lawsuit alleging widespread workplace harassment and discrimination. CEO Bobby Kotick eventually departed following the Microsoft acquisition’s close.
