Microsoft to Buy 'Minecraft' Creator Mojang for $2.5B

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Microsoft will buy Stockholm-based game developer Mojang, the creator of the "Minecraft" video game franchise, for $2.5 billion. Microsoft expects the acquisition to close in late 2014. "Gaming is a top activity spanning devices, from PCs and consoles totablets and mobile, with billions of hours spent each year," Satya Nadella, Microsoft CEO, said in a statement. "Minecraft is more than a great game franchise — it is an open world platform, driven by a vibrant community we care deeply about, and rich with new opportunities for that community and for Microsoft." Shares of Microsoft traded slightly lower in pre-market trading following the announcement.