Microsoft has established a new subsidiary called Vault as part of the merger process with Bethesda parent ZeniMax.

ZeniMax was purchased by Microsoft for $7.5 billion in September 2020, bringing Fallout and The Elder Scrolls developer Bethesda into the Xbox Games Studios fold.

Now, according to a document uploaded on the European Commission website, Microsoft intends to create a new home for ZeniMax within its business structure -- with the 'Vault' moniker a clear nod to the Fallout series. 

"Microsoft acquires within the meaning of Article 3(1)(b) of the Merger Regulation sole control of the whole of ZeniMax," reads the notification of concentration submitted to the European Commission. 

"The concentration is accomplished by way of a merger pursuant to which a newly created Microsoft subsidiary (‘Vault’) will be merged with and into ZeniMax."

Another document published by the European Commission states, "Following this merger, Vault will cease to exist and ZeniMax will survive, as a wholly owned subsidiary of Microsoft." 

The European Commission has invited interested third parties to relay their views on the proposed merger by February 15, 2021.

Updated: Added statement from additional EC doc (h/t UESP's Twitter).