Xbox boss Phil Spencer wanted Microsoft to acquire "prime asset" Nintendo in 2020

gamedeveloper.com:

Microsoft once believed (and perhaps still does) that acquiring Nintendo would be its "most likely path to consumer relevance" and would have attempted to purchase the Switch maker had the opportunity arisen.

In an email that was part of a bundle of leaked documents from the FTC v Microsoft lawsuit, Microsoft execs Chris Capossela, Takeshi Numoto, and Phil Spencer discussed the possibility of acquiring Nintendo and described the Japanese company as "the prime asset for us in gaming."

The email was sent in August 2020 with the subject "random thought" and shows the trio mulling over other potential acqusitions including buyouts of Warner Bros Interactive and Bethesda owner Zenimax Media, the latter of which Microsoft did eventually purchase.

In the email chain, Xbox boss Phil Spencer explained he'd already had "numerous conversations" with Nintendo about "tighter collaboration," and suggested Microsoft would be in the "best position" to acquire the Super Mario Bros. and The Legend of Zelda developer compared to other U.S. companies.

At the time, Spencer said "gaming is [Microsoft's] most likely path to consumer relevance," underlining why the company was exploring significant mergers and acquisitions.

Notably, Spencer added that Microsoft would need to play the "long game" if it hoped to merge with Nintendo, but noted that the company's board of director's had seen the "full writeup" and was "fully supportive" of a move in the right circumstances.

"The unfortunate (or fortunate for Nintendo) situation is that Nintendo is sitting on a big pile of cash [and] they have a board of directors that until recently has not pushed for further increases in market growth or stock appreciation," said Spencer, explaining why Microsoft would