Microsoft’s acquisition spree might not be over. Windows Central editor Jez Corden dropped a bombshell on the GamingLeaksAndRumours subreddit, stating he’s heard the company is “exploring doing another developer acquisition.” Coming after the landmark $69 billion Activision Blizzard deal, the rumor has gamers speculating about Microsoft’s next gaming empire expansion.
Jez Corden’s Credibility
Jez Corden carries serious weight in Xbox reporting circles. As Windows Central’s lead Xbox analyst, he’s broken stories on everything from multiplatform strategies to internal hardware roadmaps. His recent scoops include accurate predictions about Fable’s Switch 2 considerations, Xbox Cloud Gaming’s ad-supported tier, and Microsoft’s 2026 Developer Direct plans.
Corden’s track record dates back years, covering Xbox Series X specs, Game Pass integrations, and studio movements. When he says he’s “heard” something about acquisitions, the gaming community listens closely. His sources typically span Microsoft’s gaming leadership through mid-level developers.
Timing Makes Sense
The rumor lands at a strategic moment for Microsoft Gaming. Activision Blizzard integration appears stable after three years, with Call of Duty locked in through 2030 deals and Diablo leading mobile growth. Xbox Game Pass subscriber numbers reportedly exceed 40 million, though exact figures remain proprietary.
Phil Spencer’s multiplatform pivot continues aggressively. Halo: The Master Chief Collection heads to PlayStation 5 alongside Switch 2, while Sea of Thieves and Pentiment thrive on PS5. Sea of Thieves reportedly generated $1 million in PlayStation revenue during its first week. Microsoft’s gaming revenue grew 44% year-over-year in Q3 2025, validating the strategy despite console sales struggles.
Prime Acquisition Candidates
Gaming communities immediately identified likely targets based on strategic fit, acquisition cost, and Microsoft’s wish list. Each carries unique appeal and massive hurdles.
| Studio | Key IPs | Value Add | Challenges |
|---|---|---|---|
| Nintendo | Mario, Zelda, Pokémon | Hardware + IP dominance | $100B+ valuation, hostile takeover impossible |
| SEGA/Sammy | Sonic, Yakuza, Persona | Diverse portfolio, arcade expertise | Sony owns Crunchyroll stake, complex structure |
| FromSoftware | Elden Ring, Dark Souls | Premier single-player studio | Kadokawa controls majority, Sony marketing deal |
| Take-Two | GTA, NBA 2K | Live service + sports leader | $30B valuation post-GTA 6 hype |
| Capcom | Resident Evil, Monster Hunter | Consistent profitability | Japanese regulations, shareholder resistance |
Why Now?
Several factors align for acquisition activity. Microsoft’s $87 billion war chest remains substantial post-Activision, bolstered by Azure cloud dominance. Gaming represents 15% of total revenue but drives disproportionate goodwill and subscription growth.
Satya Nadella reportedly greenlit gaming as a core pillar alongside AI and cloud. Phil Spencer’s mandate expanded beyond Xbox hardware to platform agnostic dominance. Acquiring Nintendo-style family IPs would balance Call of Duty’s mature audience skew.
Fan Speculation Breakdown
Reddit reactions split predictably across wishful thinking and realism. Top comments favor strategic mid-tier targets over moonshot Nintendo bids.
- SEGA emerges as fan favorite – Sonic revitalizes Xbox family appeal
- FromSoftware fills single-player gap post-Arkane struggles
- Capcom offers immediate Game Pass hits with Resident Evil 10
- Nintendo dreams fuel memes despite obvious regulatory suicide
- Take-Two represents moonshot tying GTA 6 to Game Pass Day One
Regulatory Realities
Activision taught Microsoft expensive lessons. UK CMA blocked the deal initially over cloud market concerns. Final approval required binding commitments including Call of Duty guarantees through 2030. FTC lawsuit dragged 18 months before dismissal.
Next targets face similar scrutiny. FromSoftware triggers no monopoly flags but Japan’s MITI monitors foreign buyouts. SEGA’s public status demands shareholder approval. Take-Two’s NBA licensing creates regulatory complexity. Nintendo remains acquisition-proof at $100 billion market cap.
Microsoft’s Strategic Gaps
Current roster analysis reveals clear acquisition priorities:
- Family gaming: Mario Kart-style racers absent from Game Pass
- Japanese IPs: Final Fantasy, Dragon Quest partnerships insufficient
- Mobile-native hits: Candy Crush scale but broader appeal needed
- Arcade/party games: Jackbox fills gap but lacks first-party heft
- Racing excellence: Forza dominates sims, arcade racers lacking
SEGA checks multiple boxes with Sonic racing, Yakuza RPGs, and Virtua Fighter. FromSoftware delivers prestige single-player pedigree. Capcom offers evergreen horror and co-op action.
Acquisition Playbook
Microsoft refined hostile takeover tactics post-Activision:
- Friendly discussions with targets first
- Board presentations emphasizing Game Pass revenue
- Creator autonomy guarantees (Ancel, Kojima model)
- Stock + cash packages exceeding market valuations
- Regulatory prep with dedicated legal teams
Activision’s turnaround proves the model. Tony Hawk’s Pro Skater 1+2 succeeded post-acquisition. Diablo Immortal dominates mobile. Studio morale reportedly stabilized after leadership shakeups.
What Success Looks Like
Fans envision perfect outcomes:
- Sonic Frontiers 2 launches Game Pass Day One
- Persona 6 exclusive marketing rights secured
- Resident Evil 10 sells 15 million first year
- Elden Ring 2 generates $6 billion lifetime
- Yakuza spin-offs fill live service pipeline
Such acquisitions transform Xbox from Western shooter stronghold into global gaming leader rivaling PlayStation’s IP diversity.
FAQs
Who is Jez Corden?
Windows Central’s senior Xbox editor with decade-long accurate reporting record. Broke stories on multiplatform strategy, hardware roadmaps, studio acquisitions.
What’s the most likely acquisition target?
SEGA emerges as sweet spot – affordable valuation, diverse IPs, strategic fit without regulatory nightmares.
Could Microsoft buy Nintendo?
Financially possible, strategically suicidal. Japanese government blocks hostile takeover of national champion.
When might an announcement happen?
2026 Developer Direct represents prime window. June Xbox Showcase serves as secondary venue.
Will regulators approve another big deal?
Likely for mid-tier targets. FromSoftware, Capcom trigger minimal monopoly concerns versus Activision scale.
How does this fit Game Pass strategy?
Day One launches accelerate subscriber growth. Family IPs expand demographic beyond 18-34 male skew.
What happened with previous rumors?
Corden accurately predicted Ubisoft Game Pass integration, Fable multiplatform, Cloud Gaming ads – high hit rate.
Could acquisitions slow Xbox first-party output?
Integration demands resources but Bethesda absorption succeeded. Activision stabilized faster than expected.
Conclusion
Jez Corden’s acquisition whisper signals Microsoft’s unrelenting gaming dominance quest. Post-Activision stability enables next chess move positioning Xbox as global IP juggernaut. SEGA represents perfect blend of affordability, nostalgia, and strategic fit while FromSoftware delivers prestige pedigree.
Regulatory scars haven’t deterred ambition. Game Pass evolution demands fresh content pipelines. 2026 shapes as pivotal showcase year where acquisition success defines Xbox’s second decade. Fans brace for potential seismic shifts transforming Microsoft’s gaming empire once again.