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During Microsoft's E3 2018 conference, Phil Spencer announced some new acquisitions for the Xbox division. First up is word that Microsoft opened up a new game studio called The Initiative. They are based out of Santa Monica. Let's hear a bit more about them from Darrell Gallagher, The Initiative's studio head.
I’m thrilled to join the Microsoft Studios family as it is clear to me that the gaming team at Microsoft shares my passion for storytelling, world-building and creative exploration. There are big plans in store for fans and we are already hard at work.

The foundation we have in place for The Initiative is unique in many ways. We’ve been given the freedom to explore, try new things and operate like an independent studio, with the backing from one of the biggest companies in the world to do something bold and different. The industry is headed in an exciting direction, and we see an opportunity to create amazing new game experiences of the future.

Our immediate focus is expanding our team to bring that vision to life, and we are incredibly excited for what the future holds for The Initiative.

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In addition, Microsoft also announced that they have acquired a number of other studios. These studios are Undead Labs (State of Decay), Playground Games (Forza), Ninja Theory (Hellblade), and Compulsion Games (We Happy Few).

If you already thought that Undead Labs and Playground Games were already owned by Microsoft, you wouldn't be alone. The real surprises here are the acquisitions of Ninja Theory, the studio behind Hellblade: Senua's Sacrifice, and Compulsion Games, the studio behind the upcoming We Happy Few.