- The EU has approved Microsoft’s $7.5 billion purchase of Bethesda Softworks’ parent company.
- Future releases will likely be Xbox exclusives and not on PlayStation, with a few exceptions.
- The EU said there were no competition concerns for Microsoft’s largest-ever video game purchase.
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Despite the pandemic, video game revenue reportedly exceeded sport and film combined in 2020.
According to data from the International Data Corporation reported by MarketWatch, the industry surged 20% to $179.7 billion.
The European Union has now approved Microsoft’s $7.5 billion purchase of ZeniMax Media, the parent company of game publisher Bethesda Softworks.
Microsoft’s acquisition is the company’s largest-ever purchase in the video game sector, Expansion reported.
When the tech giant first announced its plans in September, analysts said Microsoft was looking to diversify its business with more revenue from consumer products.
“As a proven game developer and publisher, Bethesda has seen success across every category of games,” Microsoft CEO Satya Nadella said in a press release announcing the acquisition in September last year. “And together, we will further our ambition to empower the more than three billion gamers worldwide.”
Bethesda is well-known for games including “Fallout,” “The Elder Scrolls,” and “Doom.”
All of Bethesda’s games will now come under Microsoft’s Xbox Studios umbrella.
The company said in September that the release of all PS5 games already announced by Bethesda would continue, but that the remainder of the games would be looked at on a “case-by-case basis,” with some new releases moving exclusively to Xbox.
The tech giant will also be able to incorporate Zenimax’s Bethesda games into its Xbox Game Pass cloud-based video game catalog.
Microsoft first requested EU approval on January 29 and the European Commission has now ruled that it will not pose competition problems to other providers.