Microsoft Corporation (MSFT) Buys Swedish Company Mojang for $2.5 Bln

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Microsoft Corporation (NASDAQ:MSFT) has announced today that it will buy Sweden-based Mojang, for a total of $2.5 billion, the former revealed in a statement. Mojang is the company that has developed the famous franchise ‘Minecraft.” According to the press release, the Mojang team will work at Microsoft Studios, which has been responsibile for notorious games like ‘Halo,’ ‘Forza,’ and ‘Fable,’ among others.

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Under the terms of the deal, Microsoft Corporation (NASDAQ:MSFT) said that it plans that the acquisition will be break-even in Fiscal Year 2015 on a GAAP basis, the statement added. The deal between Microsoft Corporation (NASDAQ:MSFT) and Mojang is expected to be completed by the end of the current year.

“Gaming is a top activity spanning devices, from PCs and consoles to tablets and mobile, with billions of hours spent each year. 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 statement quoted Microsoft Corporation (NASDAQ:MSFT)’s CEO, Satya Nadella, as saying.

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