Embracer Group Sells Gearbox Entertainment to Take-Two Interactive for $460 Million
In a major shakeup in the gaming industry, Embracer Group has announced the sale of Gearbox Entertainment to Take-Two Interactive for a whopping $460 million. The move comes as part of a larger restructuring effort by Embracer, which had acquired Gearbox for $1.3 billion in 2021.
The decision to sell Gearbox came after financial difficulties for Embracer following a failed deal with Savvy Games Group in 2023. Take-Two will now take over entities like Gearbox Software and popular franchises like Borderlands and Homeworld as part of the deal.
Despite the sale, Gearbox is not slowing down in terms of game development. The studio currently has six titles in development, including sequels to Borderlands and Homeworld, as well as a new IP. Embracer will retain other branches of Gearbox, such as Gearbox Publishing San Francisco and Cryptic Studios.
Both Embracer CEO Lars Wingefors and Gearbox founder Randy Pitchford have expressed optimism about the deal and the future of Gearbox under Take-Two. Pitchford stated, “I am confident that this partnership will lead to new and exciting opportunities for our fans and the industry as a whole.”
In addition to the sale of Gearbox, Embracer has also sold Saber Interactive for $500 million and implemented significant layoffs and studio closures as part of their ongoing restructuring efforts. The company is clearly making bold moves to position itself for future success in the competitive gaming market.
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