logo
Plus   Neg
Share
Email

Microsoft To Acquire Bethesda Softworks Parent ZeniMax Media For $7.5 Bln In Cash

Microsoft Corp. (MSFT) said Monday it plans to acquire ZeniMax Media for $7.5 billion in cash.

ZeniMax Media is a privately-owned media organization headquartered outside Washington DC and the parent company of Bethesda Softworks, a privately-held game developer and publisher.

Bethesda is the creator of critically acclaimed gaming franchises including 'The Elder Scrolls' and 'Fallout' among many others. Microsoft noted that Bethesda will bring a portfolio of games, technology, talent, as well as a track record of blockbuster commercial success, to Xbox.

The planned acquisition includes publishing offices and development studios across the globe with more than 2,300 employees, including Bethesda Softworks, Bethesda Game Studios, id Software, ZeniMax Online Studios, Arkane, MachineGames, Tango Gameworks, Alpha Dog, and Roundhouse Studios.

Bethesda's critically acclaimed and best-selling franchises include 'The Elder Scrolls', 'Fallout', 'DOOM', 'Quake', 'Wolfenstein', and 'Dishonored', among others.

Microsoft expects the acquisition to close in the second half of fiscal year 2021 and to have minimal impact to adjusted operating income in fiscal years 2021 as well as 2022.

Bethesda parent company ZeniMax Media was founded in 1999 by Chairman and CEO Robert Altman. According to Microsoft, Bethesda's structure and leadership will remain in place.

Microsoft noted that games are the primary growth engine in gaming and are fueling new cloud-gaming services like Xbox Game Pass, which has reached a new milestone of over 15 million subscribers.

With the addition of Bethesda, Microsoft said it will grow from 15 to 23 creative studio teams and will be adding Bethesda's iconic franchises to Xbox Game Pass.

This includes Microsoft's intent to bring Bethesda's future games into Xbox Game Pass the same day they launch on Xbox or PC, like 'Starfield', the new space epic currently in development by Bethesda Game Studios.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration (FDA) has gone ahead with the approval of antiviral drug remdesivir as first treatment for COVID-19, notwithstanding last week's findings by the World Health Organization (WHO) that the drug is not effective for COVID-19 treatment. Thursday, Gilead Sciences announced that the FDA approved remdesivir, sold under the brand name Veklury. Integrated payments firm American Express Co. (AXP) reported Friday that net income for the third quarter declined to $1.1 billion or $1.30 per share from $1.8 billion or $2.08 per share in the prior-year quarter. Consolidated total revenues, net of interest expense, also decreased 20 percent to $8.8... The Federal Trade Commission or FTC has launched a new fraud reporting platform, using which, consumers can easily report fraud and all other consumer issues directly to the regulator. In a statement, the FTC said its new website, ReportFraud.ftc.gov, will provide a streamlined and user-friendly way to submit reports about scams, frauds, and bad business practices.
Follow RTT