The Blizzard end of the deal will encompass only the company's Battle.net and website advertisements.
"Massive understands and respects our stance against advertising that might detract from gameplay or offend our players," said Blizzard COO Paul Sams.
Under the terms of the Activision deal, Massive will provide its in-game ads to the publisher over several years, for up to 18 Xbox 360 and PC titles. Guitar Hero: World Tour, Quantum of Solace, and Tony Hawk were named as specific titles that Massive would be handling.
Massive and Activision have worked together in the past, with the ad firm running over 330 campaigns with more than 225 advertisers in titles such as Guitar Hero III and Tony Hawk's Proving Ground.
"By incorporating dynamic in-game advertising in our titles where it is appropriate, we can increase the realism of our games by presenting consumers with authentic environments in genuine settings, while also expanding a key growth opportunity for the company," said head of Activision business development Dave Anderson.