Minecraft developer Majong acquired by Microsoft for $2.5 billion.
Microsoft acquired video game Minecraft developer Majong for $2.5 billion on September 15, 2014. The Stockholm-based company will join Microsoft Studios, the developers behind cult games such as ‘Halo’, ‘Forza’, ‘Fable’ and many more.
Following the acquisition, Minecraft players will be able to take advantage of Microsoft’s investments in cloud and mobile technologies, faster transitions and better connections with the video game community.
Microsoft expects the acquisition to reach break-even in FY15 on a GAAP basis. The agreement will undergo a regulatory review, as well as abide by any closing conditions, and is expected to close it by end of 2014.
Minecraft, being one of the most popular games, has had over 100 million downloads on just PC in 2009. Apart from PC, it has also has massive popularity as an online game on Xbox, as a highly paid for app on iOS and Android in the US.
According to Microsoft, the Minecraft community is among the most active and passionate in the industry, with more than two billion hours played on Xbox 360 alone in the past two years. Minecraft fans are considered to be loyal, with nearly 90 percent of paid customers on the PC having signed in within the past 12 months.