Microsoft today announced that it would acquire the parent company of Bethesda Softworks, one of the biggest game developers in the world. The price? $7.5 billion.

“Creators of critically acclaimed and best-selling gaming franchises including The Elder Scrolls, Fallout and many others, Bethesda brings an impressive portfolio of games, technology[,] and talent — as well as a track record of blockbuster commercial success — to Xbox,” the brief announcement post notes.

They’re underselling this.

Bethesda is one of the largest privately-held game developers and publishers in the world, and its portfolio includes some of the most popular games on earth, not just the Elder Scrolls and Fallout series, but also DOOM, Wolfenstein, The Evil Within, Prey, Dishonored, and others. This is a blockbuster move by Microsoft, further indicating its intention to not just stick with gaming but really make a play for the top spot.

“Please join me in welcoming all of our friends at Bethesda to Team Xbox,” a message from Xbox head Phil Spencer adds. “Bethesda’s games have always had a special place on Xbox and in the hearts of millions of gamers around the world. Our teams have a close and storied history working together, from the amazing first DOOM, and its id Tech engine, innovating games on PCs to Bethesda bringing their first console game to the original Xbox, the groundbreaking The Elder Scrolls III: Morrowind. Over the years I’ve had many deep conversations with the creative leaders at Bethesda on the future of gaming and we’ve long shared similar visions for the opportunities for creators and their games to reach more players in more ways.”

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