Microsoft Is Buying Bethesda's Parent Firm For $7.5 Billion.

Ives said that although Xbox and gaming have been successful in the past, Microsoft recognizes the need for growth in the revenue generated by consumers. This deal will help drive that along, in a Monday briefing on the acquisition.

Phil Spencer, executive vice president of Xbox Business for Microsoft Corp. The executive vice president of Xbox Business for Microsoft Corp., speaks at Microsoft Corp.'s Xbox One X reveal event ahead of the E3 Electronic Entertainment Expo in Los Angeles, California, U.S., on June 11, 2017.

Microsoft and Bethesda confirmed the details of the deal in separate statements Monday morning.  BOOKS AND STUFF  of Xbox Phil Spencer said Bethesda was an early supporter of Xbox Game Pass that has also been investing in cloud streaming of games.

"All of their amazing work will surely continue and grow , and we look forward to supporting them with the resources and help of Microsoft to help them expand their creative visions to more players in innovative ways," Spencer wrote in a Microsoft blog post announcing the partnership.

Todd Howard, executive producer at Bethesda and director of Bethesda said that the trajectories of his company as well as Xbox "have been hand in hand" since the first launches.

"This one is about more than one system or one screen," Howard wrote in an article on Bethesda's site.

The ZeniMax purchase is around $1.5 billion more than the $5.9 billion Activision Blizzard paid to acquire King Digital, the parent company of Candy Crush King Digital, in 2014 and more than three times higher than the $2.5 billion Microsoft paid to acquire Minecraft the same year.

Van Dreunen said Microsoft's latest deal shows Xbox is well-equipped for growing battles between platforms that are expected to pick up momentum later in the year with the upcoming launch of Sony's PS5 and Microsoft's Xbox Series X.

Investors responded positively to the news of Microsoft's acquisition on Monday, with Microsoft's stock price rising about three points by Monday afternoon.