Internal Emails Unveiled During Ongoing FTC vs. Microsoft Case Reveals Xbox Paid 117 Million Dollars for Ninja Theory

New discoveries are being unveiled by the hour as the FTC vs. Microsoft court case continues this week. Internal documents released as evidence for the case reveal the purchase price for one of Xbox’s acquired studios, Ninja Theory. The price, 117 million USD, was found in an internal email pitch to approach Sega for an acquisition proposal in 2020.

Ninja Theory have yet to produce much for Microsoft since its acquisition in 2018 but is on the cusp of releasing the anticipated Hellblade 2 in 2024.

Austin "Proven"

Writer and Contributor for XboxEra. Halo 3 is a perfect game.

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  1. That is crazy how cheap. It is more than I’ll ever make, but still for a quality studio, I’d have thought more.

  2. That’s about what I expected, always thought they were in that 100 million dollar range.

  3. Curious how much Obsidian cost.

  4. Outside of hell blade did they own any ip?

    As for that price it makes sense

  5. I’d by that for a dollar.

    Such a good price.

  6. I expected less. Sony bought Insomniac for $250M. Number of similar studios bought by Tencent or Embracer on the cheap.

  7. Yup the thing with studios is that people can leave at a moments notice.

    It’s all about ip where insomniac only owned sunset overdrive the 250 million cost sounds right

  8. Insomniac owned barely any IP. Ninja Theory owns an IP that, at the time of purchase, was a critical, BAFTA award wining darling that sold really well on multiple platforms.

    IP costs more than talent, ironically.

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