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September 15, 2014 AT 10:07 am

Microsoft will acquire Mojang for $2.5 billion

Microsoft will acquire Mojang for $2.5 billion.

Microsoft Corp. today announced it has reached an agreement to acquire Mojang, the celebrated Stockholm-based game developer, and the company’s iconic “Minecraft” franchise.

The Mojang team will join Microsoft Studios, which includes the studios behind global blockbuster franchises “Halo,” “Forza,” “Fable” and more. Microsoft’s 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.

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.

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