Microsoft is acquiring the parent company of Bethesda Softworks, the developer of games such as Doom, Fallout and The Elder Scrolls, for $7.5 billion (Dh27.5bn).
The deal for Zenimax Media will bring "an impressive portfolio of games, technology and talent" to Microsoft's Xbox platform, the company said in a statement on Monday.
“Gaming is the most expansive category in the entertainment industry, as people everywhere turn to gaming to connect, socialise and play with their friends,” Microsoft's chief executive, Satya Nadella, said. “As a proven game developer and publisher, Bethesda has seen success across every category of games, and together we will further our ambition to empower the more than three billion gamers worldwide.”
The games industry is now worth more than the music and the film industry combined, with a report from consultancy Newzoo forecasting industry revenue of about $159.3bn this year, a 9.3 per cent annual increase. This is set to grow to more than $200bn by 2023 as user numbers climb above 3 billion.
Microsoft is expected to release the latest version of its Xbox console, the Xbox Series X, on November 10. The platform is much faster than its predecessor, offering frame rates of 120 frames per second and what the company describes as a 'True 4K' resolution.
However, Microsoft said its strategy recognises the move "from a device-centric era to a player-centric era" and is focused on allowing gamers to play what they want on whatever devices they want, adding that Xbox Game Pass – its game subscription service – now has more than 15 million subscribers.
Zenimax Media was founded in 1999 by Robert Altman and has 2,300 employees in games development studios and publishing offices around the world. The company's existing structure and management team will be maintained, Microsoft said.
"We have enjoyed a close partnership with Microsoft for decades, and this deal is a natural progression of those years working together,” Mr Altman said.
The deal is subject to regulatory and other approvals and is expected to close in the second half of its 2021 fiscal year, which ends in June next year.
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
Company profile
Name: Infinite8
Based: Dubai
Launch year: 2017
Number of employees: 90
Sector: Online gaming industry
Funding: $1.2m from a UAE angel investor
SPEC%20SHEET
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UAE currency: the story behind the money in your pockets
Dates for the diary
To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:
- September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
- October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
- October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
- November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
- December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
- February 2, 2018 Bodytree will host its 4th annual yoga market.
COMPANY%20PROFILE
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In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
The%20Roundup
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Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
The five pillars of Islam
KILLING OF QASSEM SULEIMANI
Mohammed bin Zayed Majlis
Kill%20
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