Xbox's Phil Spencer has gone on record to say that Microsoft is still not done buying up game studios, although it will have to be the right studio for the right reasons.
Speaking at a Wall Street Journal Tech Live event, via VGC, Spencer stated that "I'm really proud of some of the creators that have chosen to become part of Xbox," and that "It's not about only the success of their next game. I want to give them some more creative capability, longer timelines when required to do their best work." He went on to highlight that Xbox Game Studios isn't opposed to bringing on more studios, but only if they're the right fit.
There are already 23 developers under the Xbox Game Studios umbrella, with Bethesda Game Studios (along with the rest of ZeniMax Media) being a notable recent acquisition. Microsoft is committed to preserving the individuality of these studios though, which so far does appear to be the case.
There are amazing teams out there and I want to be listening to those creators and getting the signal from them on what are they seeing, what are they trying to create and then challenging ourselves as a platform—can we build the best platform for them—so that they feel like they can do their absolute best work? And that's an ongoing journey, right? It's not a destination, it's a journey. We'll be on that journey for years, but having them be the best version of themselves. And not somehow, you know, all getting the kind of Xbox stamp. If they don't want to, it's fine—keeping them independent is great.
So while there are no immediate plans to acquire any new game studios it would seem, it's also clear that buying more studios isn't off the table. So far, the strategy appears to be working for Microsoft, with many of the recent releases from their acquisitions proving to be successful.
"We're always out there looking for people who we think would be a good match and teams that would be a good match with our strategy," he said. "There's no quota. There's no kind of timeline where I have to go acquire studios by a certain time, but if we find a studio where we have a good fit, we share what we're trying to go do and what they're trying to go do, and if we feel we can both get better together, absolutely."