At the start of 2021, Embracer had put $363 million on the table to acquire Gearbox, even if the total amount of the operation could theoretically have exceeded a billion dollars, in the form of bonuses and shares distributed among the 6 next few years, depending on Gearbox's performance. In the end, Randy Pitchford's company will not go that far and will continue its journey under the wing of another giant that he already knows well. Take-Two Interactive will indeed adopt Gearbox for a total of $460 million in the form of newly issued shares, which will allow it to get its hands on the Homeworld, Risk of Rain, Brother in Arms and Duke Nukem franchises. …but especially Borderlands, of which he was already the publisher since its creation in 2009. A marriage undoubtedly logical in the eyes of Strauss Zelnick who therefore gains three development studios: Gearbox Software, Gearbox Montreal and Gearbox Studio Quebec.
As with the sale of Saber Interactive, Embracer is however keeping some assets for itself. Starting with Gearbox Publishing San Francisco (formerly Perfect World Entertainment) which will be renamed and will keep the rights to the Remnant franchise (Remnant 2 was one of Embracer's biggest successes in 2023 with Dead Island 2), Hyper Light Breaker And ” other notable unannounced games “. Cryptic Studios (Neverwinter, Star Trek Online), Lost Boys Interactive And Captured Dimensions also remain with Embracer, which will find each of these companies a warm place in one of its 10 remaining operational groups.
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The next Borderlands is in “active development”
“ The proceeds of the transaction will, upon closing, significantly reduce net debt, earn-out obligations and capital expenditures. », explains the communicated of Embracer which had already reduced its workforce by 8% (1,383 people) in 2023 before letting Saber Interactive slip away at the start of the year for 225 million euros. “ After evaluating several options for Gearbox, I am pleased that we have arrived at a solution that is in the best interest of all stakeholders. Randy and the team have been great collaborators over the years and I want to thank them for that. As one of the largest game developers in the world, I am confident that Gearbox will continue to innovate and thrive in its new home within Take-Two “, comments Lars Wingefors, co-founder and CEO of Embracer.
For its part, Take-Two took the opportunity to emphasize that the next episode of Borderlands is in active development. Soon brought to the cinema by Eli Roth, the franchise has 83 million games distributed worldwide, including 28 million Borderlands 2 and 19 million Borderlands 3. Gearbox currently has six key interactive entertainment projects in various stages of development, including five sequels, including two from the Borderlands and Homeworld franchises, and at least one exciting new intellectual property. Beyond these projects, Take-Two believes there are additional opportunities to invest in new projects and expand Gearbox's proven franchises. »