Microsoft has acquired Stockholm-based game developer Mojang and its iconic “Minecraft” franchise for $2.5 billion.

The acquisition is expected to close later this year, subject to customary closing conditions and any regulatory review.

The Mojang team will join Microsoft Studios, and Microsoft plans to continue to make “Minecraft” available across all the platforms on which it is available today: PC, iOS, Android, Xbox and PlayStation.

“‘Minecraft’ is one of the most popular franchises of all time,” says Phil Spencer, head, Xbox, Microsoft. “We are going to maintain ‘Minecraft’ and its community in all the ways people love today, with a commitment to nurture and grow it long into the future.”

“Minecraft” is one of the most popular video games in history, with more than 100 million downloads, on PC alone, by players since its launch in 2009.

“Gaming is a top activity spanning devices, from PCs and consoles to tablets and mobile, with billions of hours spent each year,” says Satya Nadella, chief executive officer, Microsoft. “Minecraft is more than a great game franchise–it is an open world platform, driven by a vibrant community we care deeply about, and rich with new opportunities for that community and for Microsoft.”