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Microsoft’s gaming acquisition

Tech stocks saved the day for the Nasdaq Composite index with a relief rally but selling in the markets have continued through the week. Microsoft is preparing for the holiday season with its biggest ever gaming company acquisition.
Microsoft will pay $7.5 billion in cash to acquire ZeniMax Media, its biggest-ever buyout in the gaming space as it prepares to take on rivals during the upcoming festival season. Its subsidiary Bethesda Softworks developed Fallout and Doom and was valued at $2.5 billion in 2016. These games could become part of Microsoft’s game pass service, which now has 15 million subscribers. With 23 studio creative teams after the acquisition, the acquisition will enhance the pipeline of games for the game pass subscription service and make the list of its titles richer. Microsoft and Sony are also preparing to launch their next-generation gaming devices in November, as they seek to garner more games on their platforms.

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