Microsoft is firing (or losing) senior game execs, slashing through its in-game ad division, and has pulled the plug on multiple in-house development studios, but here’s proof that the company is still bullish on video games, and online gaming, in particular: it just acquired online video-game firm BigPark.

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Terms of the deal weren’t disclosed, but BigPark has deep Microsoft roots. Its chairman (and former co-founder) is Don Mattrick, who heads up Microsoft’s Xbox and Games for Windows businesses; the gaming company has also been working on a new Xbox 360 title for the past year—which Microsoft (NSDQ: MSFT) hinted that it will preview at this year’s E3 conference. The Big Park team, including CEO and co-founder Hanno Lemke, will report to Phil Spencer, GM of Microsoft Game Studios. Release.