Microsoft Corp.’s acquisition of Activision Blizzard Inc. aims to shake up the game industry by expanding the software giant’s library of blockbuster videogames and bolstering its efforts to entice consumers to its cloud-gaming service.

The planned $75 billion deal would be Microsoft’s biggest ever and its most ambitious investment yet in its plan to turn its Game Pass subscription service into the Netflix of gaming. Once the acquisition closes, Microsoft said it would be the world’s third-largest game company by sales, with 30 game studios under its belt, including the developers of popular franchises Call of Duty, World of Warcraft and Candy Crush.

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