Read the email Microsoft Gaming's CEO sent staff about its $68 billion purchase of Activision
- Phil Spencer, Microsoft Gaming's new CEO, wrote an email to staff about the company's $68 billion Activision deal.
- The exec, who was previously head of Xbox, called the deal "incredibly exciting."
Microsoft announced plans to buy Activision, the gaming giant behind the popular "Call of Duty" franchise, for a whopping $68 billion on Tuesday.
And Phil Spencer, the former Xbox head and the new CEO of Microsoft's new Gaming division, sent an email to staff regarding the blockbuster deal, which the company posted on its website.
The new executive said the "incredibly exciting" acquisition is a "milestone for our company, our business, and our industry." It's both Microsoft's and the video game industry's largest ever acquisition, as Insider's Ben Gilbert noted.
Spencer also said the company expects the deal to close later this year "pending regulatory approval."
He used the email to announce that he was assuming the role of CEO of Microsoft Gaming, a new division that the company created as part of its Activision acquisition. Spencer previously served as the former head of Xbox, a role he took on in 2014, before becoming the executive vice president of gaming at Microsoft.
Activision CEO Bobby Kotick will reportedly leave the company once the Microsoft deal closes.