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.[6] 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. As of March 2018, 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 harassment and employment 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).