Nintendo is being bought by Microsoft
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Microsoft has announced that they are buying Nintendo for $2.5 billion, making the company part of the Xbox brand of gaming studios and devices. Nintendo's current console, Switch, will continue to be sold while Nintendo's stable of franchises--Mario, Zelda, Smash Bros, and Pokemon--will become available on Xbox and Windows PC in the following months.
Phil Spencer, head of Xbox, said "The Xbox team has been wanting to acquire Nintendo for decades, going back to the launch of the original Xbox in 2001. We are so happy to finally have this talented team as part of the Xbox family."
"Nintendo and Xbox are better together," said Doug Bowser, head of Nintendo of America. "Microsoft's powerful blend of hardware and networking compliments Nintendo's stable of fun characters and franchises."
Nintendo shares jumped 5 in trading following this announcement.
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