Microsoft completes acquisition of Minecraft maker Mojang

Microsoft completes acquisition of Minecraft maker Mojang
Microsoft's Phil Spencer has confirmed the company's acquisition of Minecraft maker Mojang has completed, ahead of schedule.

Reads Spencer's tweet: "It's official, today we welcome Mojang to the Microsoft Studios family. We're excited for the possibilities ahead w/the Minecraft community."

The companies announced the move in mid-September, with Microsoft paying a handsome $2.5 billion price to buy the developer.

While Mojang had rejected previous offers outright, it became clear over the summer that the founders were finally ready to sell. All three founders including Notch decided not to stay on after selling, leaving just 37 employees, a tiny number for a studio with a massive hit game.

Minecraft has sold over 50 million copies since launch in 2009, across platforms that include the PC, PlayStation, Xbox and phones. The game is also wildly profitable, with Mojang bringing in over $100 million in profit last year from game and merchandise sales. The company also had nearly $300 million in revenue last year. The company recently signed licensing deals with Scholastic for tutorial books, LEGO for toys and even Warner Bros. for a feature film. Besides the licensing revenue, the developers make money by charging a one-time fee for their games, unlike most others that offer freemium models. The games range from $7-$30 depending on system.

Written by: Andre Yoskowitz @ 9 Nov 2014 0:26
Microsoft mojang
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