Microsoft shares close lower ahead of new game studio acquisitions announcement

Microsoft shares closed lower in the US Friday, ahead of news at its XO18 event Saturday, that it is purchasing game developers, Obsidian and inXile.

Microsoft shares close lower ahead of new game studio acquisitions announcement

Microsoft shares ended the US Friday trading session in the red, ahead of news Saturday that the tech giant has acquired two new game creation studios, Obsidian and inXile. The announcement was made at its own XO18 event and further bolsters its Microsoft Studios game development resources.

Microsoft shares closed 1.95% lower at €109.57. The stock has been notably mixed in recent weeks.

Microsoft adds more gaming developers

During its XO18 Xbox fan event in Mexico City, the tech firm announced a variety of updates, including that it would be purchasing two new game developers, Obsidian and inXile.

Well-known games developed by Obsidian include ‘Star Wars: Knights of the Old Republic II: The Sith Lords’ and ‘Fallout: New Vegas’. inXile, meanwhile, is the studio behind: ‘Wasteland 2, Torment: Tides of Numenera’, among others.

“While they do share a common heritage, the two creative teams at Obsidian and inXile are very different,” said Matt Booty, Corporate VP of Microsoft Studios.

“They will continue to operate autonomously with their unique talents, IP and expertise. As part of Microsoft Studios, Obsidian and inXile will have the support and freedom to fully realize their creative ambitions on both existing franchises and new RPG projects,” Booty added.

Microsoft working hard on PC games

The event was a busy one and leading Microsoft executives shared numerous plans and news from the business.

Among the comments made by Microsoft and Xbox executives, was one from Microsoft gaming chief and Xbox head, Phil Spencer.

He told The Verge that the company is aware it has more work to do to improve the gaming functionality for PC gamers on its Windows format.

“I think we’ve got a ton of work to do on Windows,” Spencer told the tech publication at the event.

“Windows is something I’m very committed to, I’ve heard the feedback about our Store. I’m going to take a bigger leadership role on what’s going on with the Windows Store, make it really tailored to the gamers that we know want to see the best from what we have to offer,” Spencer said.

Top Equities Brokers

0 Brokers added for comparison:
Clear all