Embracer Group had acquired Gearbox Software three years ago in a deal worth up to $1.3 billion. The current sale to Take‑Two Interactive is estimated at $460 million.
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Two Borderlands projects under development will continue to be led by Gearbox CEO Randy Pitchford under Take‑Two's 2K division.
Swedish gaming company Embracer Group has agreed to sell Gearbox Interactive to Rockstar parent company Take-Two for $460 million. In a press release published on Thursday, Embracer announced that Take-Two will gain full ownership of the Borderlands (including Tiny Tina's Wonderlands), Homeworld, Risk of Rain, Brothers in Arms, and Duke Nukem game series in the deal, which is expected to close by June 2024.
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Take-Two Interactive will also acquire Gearbox's studios located in Quebec, Montreal and Frisco, Texas. However, Embracer will retain certain Gearbox assets, including Gearbox Publishing San Francisco (which will be renamed), Cryptic Studios, Lost Boys Interactive, the Remnant game series, Hyper Light Breaker, and “other significant unannounced game releases”.
The acquired assets – which Take-Two says include two Borderlands titles, two Homeworld titles, and “at least one exciting new intellectual property” already in development – will continue to be run by Gearbox CEO Randy Pitchford under Take-Two’s 2K division.
“We are thrilled to welcome Randy Pitchford and his team of passionate, talented developers to 2K and look forward to releasing many projects in the future as colleagues,” said 2K PresidentDavid Ismailer. “We have loved working with Gearbox on every installment of the Borderlands series and are excited to be actively developing the next title in the series.”
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The $460 million sale – long expected – pales in comparison to the $1.3 billion Embracer estimated the business was worth in 2021. Embracer has implemented decisive “restructuring” since a massive $2 billion deal fell through last year, having sold Saber Interactive last month and laid off staff from Lost Boys Interactive and Eidos Montreal in January.
Source: theverge
