Just announced during the presser.
From The Guardian live thread:
Microsoft announces that it has acquired 5 new game studios
Xbox chief Phil Spencer is back, talking about how the Xbox team has been touring the world in search of new studios to work with. This has resulted in a new Microsoft game studio: The Initiative, based in Santa Monica.
Microsoft has also acquired Undead Labs, developer of the recent
State of Decay 2. The company has also bought up Playground Games, developers of the Forza Horizon series - and, says Phil, an "entirely new open-world project".
Big surprise: Ninja Theory, developer of BAFTA-winning Hellblade: Senua's Sacrifice, is now part of Microsoft too.
And there's a fifth! Compulsion
Games, which is currently making We Happy Few.
This is great news. Microsoft is showing that it's investing massively in new game development talent.