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"While Xbox and gaming have been successful, [Microsoft] recognizes the requirement for consumer-based revenue growth, which we believe this deal will directly to achieve," Ives wrote in an article published on Monday about the acquisition.
Phil Spencer, executive vice president of Xbox Business for Microsoft Corp. He speaks at the company's Xbox One X reveal event ahead of the E3 Electronic Entertainment Expo in Los Angeles, California, U.S., on June 11 in 2017.
Microsoft and Bethesda confirmed details of the agreement in separate statements issued Monday morning. Xbox Game Pass Head Phil Spencer stated that Bethesda was a fan of Xbox Game Pass, and has invested in cloud streaming.
"All of their amazing work will of course continue to expand and flourish 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 a Microsoft blog post to announce the agreement.
Todd Howard, executive producer at Bethesda and director of Bethesda stated that the trajectory of his company as well as Xbox "have been going hand in hand" ever since their first launches.
"This one is about more than one system or one screen," Howard wrote in an article on Bethesda's site.
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 buy Minecraft the same year.
Van Dreunen stated that Microsoft's recent deal with Microsoft indicates that Xbox is ready to fight in the escalating platform battles. They are expected to pick up pace later in the year and will be followed by the release scheduled by Microsoft's Xbox Series X and Sony's PS5.
Investors were pleased with Monday's acquisition news, with Microsoft's stock price increasing by three percentage points by the end of Monday afternoon.
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