Scalper1 News
Microsoft (MSFT) on Monday agreed to pay $2.5 billion for a one-hit wonder video game company based in Stockholm. Privately held Mojang, maker of the hugely popular game “Minecraft,” will bolster Microsoft’s first-party video game business. Reaction to the deal was mixed. Microsoft stock fell 1% to 46.24 on the news. The Mojang team will join Microsoft Studios, which creates games for such franchises as “Halo,” “Forza” and “Fable.” Microsoft (MSFT) says its investments in cloud and mobile technologies will give “Minecraft” players faster-loading and richer worlds, as well as more powerful development tools. Microsoft expects the acquisition of Mojang to be break-even on a GAAP basis in fiscal 2015, which ends next June. The deal is expected to close in late 2014, pending customary closing conditions and regulatory approvals. Microsoft plans to continue to make “Minecraft” available across all the platforms on which it is available today: Microsoft’s Xbox and… Scalper1 News
Scalper1 News