", Catch up on coronavirus stories and special reports, curated by Mike Allen everyday, Cloud gaming is finally having its moment, Video gaming growth soars thanks to pandemic, Apple, Google, Amazon, and Microsoft enter the videogame subscription wars, CEO confidence rises for the first time in over 2 years, Official says White House political appointees "commandeered" Bolton book review. ZeniMax Media Inc. develops, designs, and publishes video games. Contact reporter Ashley Stewart via encrypted messaging app Signal (+1-425-344-8242) or email (astewart@businessinsider.com). It will also help further lift Microsoft's cloud gaming suite, Xbox Game Pass. ZeniMax Media has 625 employees and is ranked 12th among it's top 10 competitors.

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he made Xbox chief Phil Spencer one of his direct reports. Microsoft expects the acquisition to close in the second half of fiscal year 2021 and to have minimal impact to non-GAAP operating income in fiscal years 2021 and 2022. "Generations of gamers have been captivated by the renowned franchises in the Bethesda portfolio and will continue to be so for years to come as part of Xbox.". 5 of 8 studios have shipped “Game of the Year” titles #1 Ranked Publisher of the Year (2018) “Game of the Year” winner 5 years in a row. The widely-unexpected deal bolsters Microsoft's gaming business, especially its video game subscription service Game Pass, but why would Microsoft pay so much for a video-game publisher when only a small portion of the company's revenue comes from gaming?

The Elder Scrolls III: Morrowind.

Games are the primary growth engine in gaming, and games are fueling new cloud-gaming services like Xbox Game Pass, which has reached a new milestone of over 15 million subscribers. A closely-watched CEO economic confidence index rose for the first time after declining for nine straight quarters, according to a survey of 150 chief executives of the biggest U.S. companies by trade group Business Roundtable. Microsoft stunned the collective gaming community on Monday when it announced its humungous $7.5 billion acquisition of ZeniMax Media. Reporting by Munsif Vengattil in Bengaluru, Additional reporting by Uday Sampath Kumar and Ayanti Bera; Editing by David Gregorio, Anil D’Silva, Patrick Graham and Shinjini Ganguli.

Under the terms of the agreement, Microsoft will acquire ZeniMax Media for $7.5 billion in cash. Its mission is to empower every person and every organization on the planet to achieve more.

"This year, we begin the journey to win back consumers with our vision.". 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.

By clicking ‘Sign up’, you agree to receive marketing emails from Business Insider Under Nadella, Microsoft has had renewed success in selling to enterprise customers, thanks to products like its Azure cloud platform and Office 365 suite of business applications. The gaming industry is on a tear as demand has surged from users stuck at home during the COVID-19 pandemic.

", "This is an awesome time to be an Xbox fan. Microsoft uses what it learns from gaming in other areas of the business. 5 of 8 studios have shipped "Game of the Year" titles, "Game of the Year" winner 5 years in a row, Consensus Game of the Year across all outlets, Named Game of the Generation and #1 PC Game of All Time, Over 50 Game of the Year Awards including DICE and BAFTA, BAFTA Award for Best Game, Best Action Adventure Game at the VGAs, PC Gamer Game of the Year, Best Action Adventure Game at the VGAs, Winner of more than 100 Best of 2016 awards, Mobile Game of the Year, DICE Awards and Golden Joystick Awards. Statements in this release that are "forward-looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. The tech industry is playing a growing role in fighting climate change, from zero-carbon commitments to investments in startups and pushing for the use of data to encourage energy efficiency. Start your day with a morning cheat sheet.