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Microsoft to buy Minecraft for $2.5 Billion

2014-09-16 09:11 by
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Microsoft Corp. yesterday announced it has reached an agreement to acquire Mojang, the celebrated Stockholm-based game developer, and the company's iconic "Minecraft" franchise.

The Mojang team will join Microsoft Studios, which includes the studios behind global blockbuster franchises "Halo," "Forza," "Fable" and more. Microsoft's investments in cloud and mobile technologies will enable "Minecraft" players to benefit from richer and faster worlds, more powerful development tools, and more opportunities to connect across the "Minecraft" community.

Under the terms of the agreement, Microsoft will acquire Mojang for $2.5 billion. Microsoft expects the acquisition to be break-even in FY15 on a GAAP basis. Subject to customary closing conditions and any regulatory review, the acquisition is expected to close in late 2014.

Available across multiple platforms, "Minecraft" is one of the most popular video games in history, with more than 100 million downloads, on PC alone, by players since its launch in 2009. "Minecraft" is one of the top PC games of all time, the most popular online game on Xbox, and the top paid app for iOS and Android in the US. The "Minecraft" community is among the most active and passionate in the industry, with more than 2 billion hours played on Xbox 360 alone in the past two years. Minecraft fans are loyal, with nearly 90 percent of paid customers on the PC having signed in within the past 12 months.

Microsoft plans to continue to make "Minecraft" available across all the platforms on which it is available today: PC, iOS, Android, Xbox and PlayStation.

Read more -here-

 

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