Gearbox Software, the studio best known for the Borderlands franchise, is reportedly up for sale as parent company Embracer Group considers options to "improve its finances," according to a Reuters report on September 11.
See also: Halo 1 content restored with the help of 343
Three people familiar with the matter told Reuters that several third parties have expressed interest in Embracer Group buying Gearbox, with the Sweden-based holding company working with investment bankers Aream & Co and Goldman Sachs to explore a potential sale. Unnamed “international gaming groups” are among the potential buyers — but Reuters’ anonymous sources said a deal may not actually happen, though they did not give a reason why.
The development comes nearly two weeks after Embracer Group shut down Volition, a 30-year-old studio responsible for games like the open-world shooter Agents of Mayhem, the first-person shooter Red Faction series, and the open-world action game Saints Row. The holding company made the decision to shut down Volition and lay off its developers in the wake of a failed $2 billion investment deal with Saudi Arabia’s Public Investment Fund that fell through in May. As a result of the funding deal’s failure, Embracer Group announced in June a “restructuring program” aimed at strengthening its position in the industry. According to a statement from Volition on August 31 regarding its sudden closure, the studio said that part of Embracer Group's restructuring program included evaluating operational and strategic goals, which prompted the holding company to close the studio.
Proposal: Meta requires employees to return to the office!
Despite the closure of Volition and the potential sale of Gearbox Software, Embracer Group still owns a number of companies. These include publishers Deep Silver (Dead Island 2) and THQ Nordic (Biomutant), developer Coffee Stain Studios (Goat Simulator), developer-publisher Saber Interactive (Evil Dead: The Game), book publisher Dark Horse Comics, and game distributor Limited Run Games, among others. One of Embracer Group's most recent acquisitions was in October 2022, when the company acquired British anime distributor Anime Limited, although no sale price was disclosed.
Read also: Employees want to be trained on artificial intelligence
source of information:kotaku.com
