Microsoft may announce new smaller-scale acquisition at E3 2021

Rumor has it that Microsoft may add a 23rd studio to its Xbox Game Studios banner with an announcement at E3 2021.

Windows Central's Jez Corden has heard "very good" rumors that Microsoft plans to secure more IP to power its Game Pass ambitions. It's possible a new studio could be included in this franchise buyout, and a new studio acquisition will be announced at E3 2021. Corden was careful to say it won't be a huge AAA purchase like ZeniMax Media, which Microsoft paid $7.5 billion to acquire.

Sometimes the easiest way to acquire an IP is to acquire a studio. Most studios don't want to sell their IPs or franchises unless they're going under, like, say, THQ. Companies like Capcom, SEGA, Square Enix, and Nintendo protect their intellectual properties at all costs and continually mine them with sequels, re-releases/remasters, and spin-offs.

There's no word on what--or who--Microsoft could be buying, but the company currently has 23 studios under its belt and it's been a fair bit since a big release has dropped.

Following the ZeniMax buyout the Xbox Game Studios list looks like this:

1. 343 Industries
2. Bethesda Softworks
3. id Software
4. MachineGames
5. Obsidian Entertainment
6. Playground Games
7. ZeniMax Online
8. The Coalition
9. The Initiative
10. Turn10
11. RARE
12. Mojang
13. inXile
14. Arkane
15. Alpha Dog
16. Compulsion Games
17. Ninja Theory
18. Roundhouse Studios
19. Tango Gameworks
20. Undead Labs
21. World's Edge
22. Xbox Game Studios Publishing