Take-Two is buying Gearbox Interactive from Embracer Group for a cool $460m.
It has lengthy been suspected that Embracer was seeking to promote Gearbox, with Reuters reporting on it again in September 2023. Now, nevertheless, the deal is finished – with just a few caveats and specifics in the case of specific property.
Franchises shifting to Take-Two embody Borderlands, Tiny Tina’s Wonderlands, Homeworld, and Duke Nukem. In addition to franchises and sequence, the studio property shifting to Take-Two are Gearbox Montreal and Gearbox Studio Quebec in addition to Gearbox Software program. These property might be absorbed into Take-Two’s 2K division, and Randy Pitchford, founder and CEO of Gearbox, will proceed to steer the Borderlands developer.
Placing a press release out on Gearbox’s X (previously referred to as Twitter) account, Pitchford mentioned that “Becoming a member of forces with Take-Two Interactive/2K will assist Gearbox ascend to our subsequent stage.
“Take-Two and 2K have demonstrated repeatedly their dedication to our engine of producing creativity, happiness and revenue”.
This ‘repeated demonstration’ is carefully associated to the truth that 2K have revealed entries into the Borderlands sequence together with Borderlands 3 and 2022’s Tiny Tina’s Wonderland. You may see Pitchford’s full assertion under within the embedded tweet.
We’re extremely proud to announce we’re becoming a member of the Take-Two Interactive/@2K household. pic.twitter.com/ot1gJK4TUpMarch 28, 2024
On the different finish of the acquisition, Take-Two CEO Strauss Zelnick mentioned “Our acquisition of Gearbox is an thrilling second for Take-Two and can strengthen our industry-leading inventive expertise and portfolio of owned mental property”.
From Embracer’s viewpoint, CEO Lars Wingefors mentioned the transaction “lowers enterprise danger and improves profitability as we transition to turning into a leaner and extra centered firm.”
Embracer initially acquired Gearbox for $363m again in 2021. Nevertheless, in current months Embracer Group has launched into a promoting spree of its property as a part of a “restructuring program”. What’s adopted has been a number of layoffs at studios like Misplaced Boys Interactive, Slipgate Ironworks, and New World Interactive, whereas Embracer additionally bought off Saber Interactive property en masse earlier this month.
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