Minecraft Bought By Microsoft For $2.5 Billion

Microsoft Corp. has just officially announced that they have reached an agreement to acquire Mojang, the Stockholm-based game developer, behind the Minecraft game franchise.

The Mojang team will become part of Microsoft Studios, which already holds claim to Halo, Forza, Fable and more among its blockbuster game franchises. Microsoft points out that their 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."

Here are the acquisition details.

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.

"Gaming is a top activity spanning devices, from PCs and consoles to tablets and mobile, with billions of hours spent each year," said Satya Nadella, CEO, Microsoft. "Minecraft is more than a great game franchise – it is an open world platform, driven by a vibrant community we care deeply about, and rich with new opportunities for that community and for Microsoft."

"The Minecraft players have taken the game and turned it into something that surpassed all of our expectations. The acquisition by Microsoft brings a new chapter to the incredible story of Minecraft," said Carl Manneh, CEO, Mojang. "As the founders move on to start new projects, we believe the high level of creativity from the community will continue the game's success far into the future."

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

"Minecraft is one of the most popular franchises of all time," said Phil Spencer, head of Xbox. "We are going to maintain Minecraft and its community in all the ways people love today, with a commitment to nurture and grow it long into the future."

More details will be available upon the acquisition closing.