Microsoft Is Buying Bethesdas Parent Company For 75 Billion

Ives said that although Xbox and gaming have proven successful in the past, Microsoft recognizes the need for a growth in revenue from consumers. This deal will help to accelerate that growth, as part of a briefing on Monday on the acquisition.

Phil Spencer, executive vice president of Xbox Business for Microsoft Corp., speaks during the company's Xbox One X reveal event prior to the E3 Electronic Entertainment Expo in Los Angeles, California, U.S., on June 11, 2017.

In separate statements released Monday morning, Bethesda and Microsoft confirmed the terms of the deal. just premium e Xbox Game Pass Head Phil Spencer said Bethesda was a fan of Xbox Game Pass, and has been investing in cloud streaming.

"All of their amazing work will continue and grow and we look forward to supporting them with the resources and support of Microsoft to help them expand their creative ideas to more players in innovative ways," Spencer wrote in an Microsoft blog post to announce the deal.

Todd Howard, director and executive producer at Bethesda said the trajectory of his company and Xbox "have gone hand in hand" since the companies first launched.

Howard wrote that "This one is more than one screen or system," in a blog post on Bethesda's website.

The ZeniMax acquisition is approximately $1.5 billion more than the $5.9 billion Activision Blizzard paid to acquire King Digital, the parent company of Candy Crush King Digital, in 2014 and about three times more than the $2.5 billion Microsoft paid to purchase Minecraft the same year.

Van Dreunen stated that Microsoft's recent deal with Microsoft shows Xbox is up to the challenge in the ever-growing battles between platforms. They are expected to gain speed later this year with the planned release by Microsoft's Xbox Series X and Sony's PS5.

Investors were pleased with the news of Microsoft's acquisition on Monday, with Microsoft's stock price rising about three points by Monday afternoon.

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