Activision Blizzard, Inc. is an American video game holding company based in Santa Monica, California. It was founded in July 2008 through the merger of Activision, Inc. (the publicly traded parent company of Activision Publishing) and Vivendi Games. It is traded on the Nasdaq stock exchange under the ticker symbol ATVI, and since 2015 has been a member of the S&P 500 Index. Activision Blizzard currently includes five business units: Activision Publishing, Blizzard Entertainment, King, Major League Gaming, and Activision Blizzard Studios. The company owns and operates additional subsidiary studios, as part of Activision Publishing, including Treyarch, Infinity Ward, High Moon Studios, and Toys for Bob. Among major intellectual properties produced by Activision Blizzard are Call of Duty, Crash Bandicoot, Guitar Hero, Tony Hawk's, Spyro, Skylanders, World of Warcraft, StarCraft, Diablo, Hearthstone, Heroes of the Storm, Overwatch, and Candy Crush Saga. Under Blizzard Entertainment, it invested in esports initiatives around several of its games, most notably Overwatch and Call of Duty. Activision Blizzard's titles have broken a number of release records. , it was the largest game company in the Americas and Europe in terms of revenue and market capitalization. The company has also been involved in multiple notable controversies, including allegations of infringed patents and unpaid royalties. In late July 2021, it was sued by the California Department of Fair Employment and Housing on allegations of sexual harassment and employee discrimination. The suit triggered an investigation by the U.S. Securities and Exchange Commission, multiple workplace walkouts, the resignation or dismissal of several employees, the loss of multiple company event sponsors, and hundreds of workplace harassment allegations. Microsoft announced its intent to acquire Activision Blizzard for $68.7 billion on January 18, 2022. If approved, Activision Blizzard would become a division of Microsoft Gaming, making Microsoft the third largest gaming company (behind Tencent and Sony). In December 2022, the Federal Trade Commission announced it would challenge the Activision Blizzard merger, and opened court proceedings. In January 2023, the European Commission announced it would prepare a statement opposing the Activision Blizzard deal, which would give them an Antitrust Warning. History Background and formation (2007–2008) The original Activision company was founded in 1979, as a third-party developer for games on the Atari Video Computer System. In 1988 the company expanded into non-gaming software and renamed itself Mediagenic. This venture was not successful, incurring heavy losses. In 1991 a group of investors led by