Gearbox Entertainment splitting from Embracer Group in $460 million deal

Gearbox Entertainment

Take-Two Interactive has announced they’re acquiring The Gearbox Entertainment Company from Embracer Group in a $460 million deal, the latest divestment from the publishing giant.

Embracer Group is selling off Gearbox Entertainment and various properties for $460 million, less than half of what they bought it for a few years ago in that giant $1.3 billion deal.

Gearbox Entertainment currently has “six key interactive entertainment projects in various stages of development,” including: five sequels (two from the Borderlands and Homeworld franchises) and at least “one exciting new intellectual property.”

Working under new parent company Take-Two, The Gearbox Entertainment Company will operate under the 2K label and will be run by founder and CEO Randy Pitchford and his team.

Following the buyout and transfer to Take-Two, Gearbox will retain Gearbox Software, Gearbox Montréal, Gearbox Studio Quebec, the Borderlands and Tiny Tina’s Wonderlands franchises, as well as Homeworld, Risk of Rain, Brothers in Arms and Duke Nukem.

After the buyout, Embracer Group will retain various studios and properties like Gearbox Publishing San Francisco (to be renamed prior to closing, formerly named Perfect World Entertainment), publishing rights to the Remnant franchise, the upcoming Hyper Light Breaker, Cryptic Studios (including MMO titles Neverwinter Online and Star Trek Online), Lost Boys Interactive, Captured Dimensions, and other notable unannounced game releases.

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