Microsoft has announced the creation of a new subsidiary called Vault which will ultimately be merged with ZeniMax to complete the acquisition process. In September of last year, Microsoft had disclosed its intention to acquire 100% stakes in ZeniMax Media and it’s publishing company Bethesda for a sum total of $7.5 billion cash. The acquisition was to go through at the beginning of 2021 and will happen by means of a merger with Microsoft’s new subsidiary.
Following that, a document was floated on a European Union portal, reports VGC, giving legal headway to the settlement by the end of this month. The EU scanner is to ensure that a competitive business atmosphere is maintained by means of regulation.
The document observes, “Microsoft acquires within the meaning of Article 3(1)(b) of the Merger Regulation sole control of the whole of ZeniMax.The concentration is accomplished by way of a merger pursuant to which a newly created Microsoft subsidiary (‘Vault’) will be merged with and into ZeniMax.”
The findings of the “preliminary examination” is somewhat comforting but there is no assurance. The commission said that the merger falls within the ambit of prescribed rules, albeit, no promises, deferring its final decision to a later date. Meanwhile, the commission has invited other interested third parties to present their observation on the proposed operation.
ZeniMax Media and its subsidiaries have their offices in the US, Australia, Netherlands, Hong Kong, Japan, France and the United Kingdom and have over 2,300 employees globally. In 2018, Bethesda teased their most anticipated game The Elder Scrolls VI which was, at the time, in pre-production stage.