Natalie Parkinson
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Microsoft to buy Mojang for $2.5 billion

Microsoft Corp., maker of the Xbox video-game console, agreed to acquire Mojang AB, the software company behind the popular game Minecraft, for $2.5 billion, in a bid to boost its Xbox and mobile businesses.

Microsoft, the world’s largest software maker, said Mojang will join its game studio division, though the company’s founders will move on to other projects. The purchase is projected to be completed late this year, and will break even in fiscal 2015, the company said today in a statement.