ZeniMax Media is one of the largest privately held game developers in the world. Its titles include Fallout and The Elder Scrolls. (The Logic)

Talking point: The acquisition is Microsoft’s largest in the gaming space, well above the US$2.5 billion it paid in 2014 for the maker of Minecraft. Microsoft is acquiring ZeniMax’s titles one week after it launched its subscription game-streaming service in a bid to compete directly with Google’s Stadia. ZeniMax’s titles also help Microsoft gear up for the latest iteration of the console wars, as Microsoft prepares to release its latest Xbox in November, shortly before Sony drops its new PlayStation. The PlayStation was expected to sell two million more copies partially on the strength of its better gaming library, prior to this acquisition. In addition to ZeniMax’s games, Microsoft is getting access to its 2,300 staff worldwide, including teams based in Canada: ZeniMax owns Alpha Dog Games, a Halifax-based developer. Its Bethesda studio, which launched the game Skyrim, has had offices in Montreal for the past five years.