Embracer has reached an agreement to sell Gearbox Interactive to Take-Two for $460 million.
When this transaction is completed, Take-Two will acquire the Borderlands and Tiny Tina's Wonderlands franchises, as well as Homeworld, Risk of Rain, Brothers in Arms, and Duke Nukem. The closure is expected to be completed in the first quarter of fiscal year 24/25, ending in June 2024.
After this, Embracer will continue to retain a number of assets such as Lost Boys, which Gearbox acquired in 2022.
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Assets divested from this sale include:
- Gearbox Software (Frisco, Texas)
- Montreal gearbox
- Quebec gearbox study
- The Borderlands and Tiny Tina's Wonderlands franchises, as well as Homeworld, Risk of Rain, Brothers in Arms, and Duke Nukem.
“Joining forces with Take-Two Interactive/2K will help Gearbox ascend to our next level,” Gearbox founder Randy Pitchford said today. “Take-Two and 2K have repeatedly demonstrated their commitment to our engine of generating creativity, happiness and profit.
“We set the standard for interactive entertainment and achieved remarkable results with record-setting games when we worked together as partners. [2K published previous Borderlands games]. “I'm incredibly excited about what we can accomplish now that we are fully aligned as one.”
On a date shared with BusinessWire2K president David Ismailer confirmed that Gearbox and 2K are actively working on the next installment in the Borderlands series.
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Meanwhile, Embracer's retained assets from this deal include:
- Gearbox Publishing San Francisco (which will be rebranded before closing, previously called Perfect World Entertainment), including publishing rights to the Remnant franchise, the upcoming Hyper Light Breaker, and other notable unannounced game releases.
- Cryptic Studios, including the MMO titles Neverwinter Online and Star Trek Online.
- interactive lost boys
- Captured Dimensions
“The retained companies will be welcomed and integrated into other parts of the Embracer Group in the coming period.” hugger he said, stating that “all companies are expected to contribute positive cash flow in the future.”
Embracer initially bought Gearbox for $363 million in 2021. News of today's long-anticipated sale of the studio is part of Embracer's “comprehensive restructuring program,” which began last year after the collapse of a “major strategic partnership” of 2 billion dollars. In May.
