Gearbox Entertainment will be sold for $460 million.
The anticipated sale of Gearbox Entertainment is now confirmed to be in progress. Embracer Group has announced that it will sell Gearbox to Take-Two Interactive Software, Inc., for $460 million. This agreement will include Gearbox Software’s headquarters in Frisco, Texas, as well as their studios in MontrĆ©al and Quebec. It will also encompass several of Gearbox’s popular franchises such as Borderlands, Tiny Tina’s Wonderlands, Homeworld, Risk of Rain, Brothers in Arms, and Duke Nukem.
Embracer Group will retain some assets in the sale, including Gearbox Publishing San Francisco, which will be renamed before the deal is finalized, as well as publishing rights for games like Remnant and Hyper Light Breaker. The deal also includes Cryptic Studios, known for MMO titles like Neverwinter Online and Star Trek Online, Lost Boys Interactive, and Captured Dimensions.
Lars Wingefors, co-founder and CEO of Embracer, stated, “Today’s announcement marks the conclusion of the divestment process and is a significant step in the transformation of Embracer. Through this transaction, we reduce business risk and enhance profitability as we move towards becoming a more streamlined and focused company. I am confident that Gearbox will continue to innovate and thrive under Take-Two’s ownership.”
Randy Pitchford, founder and CEO of Gearbox Entertainment, added, “As a long-term Embracer Group shareholder, I believe this transaction is beneficial for all parties involved. I am focused on ensuring that the games we develop at Gearbox will deliver exceptional experiences for our fans.”
The deal between Embracer and Take-Two has been in discussions since 2023, following restructuring and financial changes at the studio.
Take-Two CEO Strauss Zelnick expressed, “We have a strong relationship with Gearbox and are proud of their work. We look forward to continued success with titles like Borderlands and Tiny Tina’s Wonderlands. Our publishing partnership will endure regardless of Gearbox’s ownership. We are excited about the future.”
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