Embracer Group continues its restructuring efforts.
Take-Two Interactive Software, Inc. has entered into a definitive agreement with Embracer Group to acquire Gearbox Entertainment Company for $460 million. Take-Two has also confirmed that Borderlands 4 is in development much to the franchise fans’ excitement.
Gearbox Entertainment is the company behind the Borderlands franchise. They also have other titles such as Risk of Rain, Brothers in Arms, Tiny Tina’s Wonderlands, Homeworld, and more to their name. Take-Two also announced Gearbox is working on two Borderlands Games as well as two Homeworld Titles. They are also working on a brand new IP, although we don’t have details about the new game just yet.
Joining forces with Take-Two Interactive/2K will help Gearbox ascend to our next level. Take-Two and 2K have demonstrated repeatedly their commitment to our engine of generating creativity, happiness, and profit. We set the bar for interactive entertainment and achieved remarkable results with groundbreaking, record-setting games when we worked together at arm’s length as partners. I’m incredibly excited about what we can accomplish now that we’re fully aligned as one.
Randy Pitchford, Founder, Gearbox Entertainment.
Embracer Group bought Gearbox in 2021. The deal went through with an upfront cost of $363 million with much of the remaining potential $1.3 billion payout tied to performance results. Embracer went through multiple layoffs and studio closures recently, also selling Saber Interactive for $247 million.
The Swedish company had a setback last year after a $2 billion partnership deal fell through. This was closely followed by a Major restructuring announcement to shore up finances.
Borderlands 4 Confirmed
Borderlands 4 is in development and while the ownership might change, fans will be eager to get their hands on the new title. There’s no information on the Borderlands 4 release date just yet. However, fans can expect more Borderlands entertainment when the Borderlands film releases on August 9, 2024.
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