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Microsoft is Buying Bethesda's Parent Company for $7.5 Billion.

"While Xbox and gaming have been successful, [Microsoft] recognizes the necessity for revenue from consumers growth and we believe this acquisition will directly drive along," Ives wrote in an interview on Monday regarding the acquisition.

Phil Spencer, executive vice-president of Xbox Business at Microsoft Corp. Extrema He speaks at the Xbox One X unveil event in Los Angeles, California, U.S.A on June 11, 2017.

Microsoft and Bethesda confirmed the details of the deal in separate statements Monday morning. Director of Xbox Phil Spencer said Bethesda was an early fan of Xbox Game Pass that has also been investing in cloud streaming of games.

Spencer said that "all of their amazing work will continue to grow" and added that Microsoft will provide the resources and support to assist them in scaling their innovative visions to new players.

Todd Howard, executive producer at Bethesda and director of Bethesda said that the trajectories of both his company and Xbox "have been going hand in hand" ever since their first launch.

"This one is about more than one system or one screen," Howard wrote in an article on Bethesda's web site.

The ZeniMax purchase is about $1.5 billion more than the $5.9 billion Activision Blizzard paid to acquire Candy Crush's parent company, King Digital, in 2014 and more than three times higher than the $2.5 billion Microsoft paid to purchase Minecraft in the same year.

Van Dreunen said Microsoft's latest deal proves that Xbox is prepared for the growing battles between platforms that are expected to pick up momentum later in the year with the upcoming launch of Sony's PS5 and Microsoft's Xbox Series X.

Investors were pleased with the news of Microsoft's acquisition on Monday, with Microsoft's stock price rising by three percentage points by the end of Monday afternoon.