Take-Two Acquires Borderlands Makers Gearbox for USD 460 Million

Embracer Group has announced that they have sold off Gearbox, the makers behind the Borderlands series, to Take-Two Interactive.

In a press release, Embracer Group has revealed that agreed to divest Gearbox Entertainment to Take-Two Interactive for a consideration of USD 460 million.

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“After evaluating several options for Gearbox, I am happy that we have reached a solution that is in the best interest of all stakeholders, “said Lars Wingefors. “Randy and the team have been great team members throughout the past years, and I would like to thank them all for that. As one of the world’s greatest games developers, I am confident that Gearbox will continue to innovate and thrive in their new home within Take-Two.”

Following the transaction, Take Two will acquire full rights to several of Gearbox’s IPs, such as Borderlands and Tiny Tina’s Wonderlands franchises, as well as Homeworld, Risk of Rain, Brothers in Arms and Duke Nukem.

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The following assets will also be divested to Take-Two following the agreement:

Gearbox Software (Frisco, Texas)
Gearbox Montreal
Gearbox Studio Quebec

As for Embracer Group, the following companies are retained even after the agreement takes place:

Gearbox Publishing San Francisco
Cryptic Studios
Lost Boys Interactive
Captured Dimensions

With the retained companies, Embracer will continue to hold the publishing rights for the Remnant franchise, the upcoming Hyper Light Breaker and other notable unannounced game releases. Rights for MMO titles such as Neverwinter Online and Star Trek Online will also retained.

Gearbox Publishing San Francisco will be renamed before closing, and all retained companies will be integrated into other parts of Embracer Group.

”As a significant long-term Embracer Group shareholder, I believe in the strategy for the Embracer Group going forward and am completely convinced that this transaction is the best possible scenario and an obvious net positive arrangement for Embracer Group, for TakeTwo and, of course, for Gearbox Entertainment.” said Randy Pitchford, CEO and Founder of Gearbox Entertainment.