Software giant Microsoft (MSFT) - Get Report has acquired ZeniMax Media, the parent company of Bethesda Softworks which publishes the popular videos games 'Fallout' and 'The Elder Scrolls,' for $7.5 billion. The deal is expected to close in the second half of 2021, and will provide Microsoft with a fresh slate of content ahead o
"Gaming is the most expansive category in the entertainment industry, as people everywhere turn to gaming to connect, socialize and play with their friends," said Microsoft CEO Satya Nadella. "Quality differentiated content is the engine behind the growth and value of Xbox Game Pass—from Minecraft to Flight Simulator. As a proven game developer and publisher, Bethesda has seen success across every category of games, and together, we will further our ambition to empower the more than three billion gamers worldwide."
$7.5 billion may sound like a lot of money, but it's not the most Microsoft's spent on an acquisition.
In 2016, the software giant spent $26.2 billion to acquire job-searching site LinkedIn. Before that, in 2011, Microsoft paid $8.5 billion for video-chatting company Skype.
Microsoft also paid $7.5 billion for GitHub in 2018, and $7.2 billion for Nokia's phone unit in 2013.
On Monday, Microsoft's shares were down 0.4%. The stock is up 24% year-to-date.
Latest Videos From TheStreet and Jim Cramer:
- What to Expect from Tesla's Battery Day
- Tesla's Musk to Employees: Floor It Into the Third Quarter
- Why Jim Cramer Says Tesla's Battery Day Is 'Very Bullish'
- Jim Cramer Manages Tech Stocks in His Portfolio
- Jim Cramer Adds Nike to His Action Alerts PLUS Portfolio
- Walmart Targets Zero Carbon Emissions by 2040