Phil Spencer just took to stage during the Xbox briefing at E3 to give an update on some new aquired studios. First, Microsoft has created a brand new studio, “Initiative Games”, set in Santa Monica. In addition they’ve acquired Undead Labs (State of Decay 2), Playground Games (Forza Horizon series), Ninja Theory (Hellblade and DmC), and Compulsion Games (We Happy Few).
Xbox often gets a bad wrap for a lack of first party exlusives, especially when compared to PlayStation. The announcements of these acquisitions shows that Microsoft is committed to turning things around.
This page will be updated as more information becomes available.
Source: Shacknews E3 2018: Microsoft Studios Creates Initiative Games, Acquires Undead Labs, Ninja Theory, and More