Microsoft adds gaming firm ZeniMax Media to XBox kitty

San Francisco: Microsoft on Monday announced it will acquire ZeniMax Media for $7.5 billion, adding muscle to its Xbox arm ahead of a fierce battle in the market for new gaming consoles.

ZeniMax is the parent company of Bethesda Softworks, publisher of popular game franchises including Dishonored, Doom, Fallout and Elder Scrolls.

“Bethesda brings an impressive portfolio of games, technology, talent, as well as a track record of blockbuster commercial success,” Microsoft said in statement.

The company will pay for the acquisition in cash with the deal expected to close by the mid-2021.

The deal comes as Microsoft prepares to release its Xbox Series X in mid-November, its first update to the gaming console since 2013.