Gearbox sold by Embracer for $460 Million

In a stunning transfer, Embracer Group has introduced the sale of Gearbox Leisure, recognized for the favored Borderlands collection, to Take-Two Interactive for $460 million USD. This sale comes simply over three years after Embracer initially acquired Gearbox for roughly $1.3 billion. The deal consists of the switch of Gearbox’s improvement studios in Austin, Texas, and Quebec, Montreal, together with the franchise rights to Borderlands, Tiny Tina, Homeworld, Threat of Rain, and Duke Nukem. Nevertheless, Embracer Group will retain Gearbox’s publishing arm, which incorporates titles like Remnant 2 and the upcoming Hyper Gentle Breaker. Moreover, there are “different unannounced video games” underneath Gearbox’s publishing arm that stay with Embracer Group.

In a strategic transfer, Embracer can also be holding onto the rights for Neverwinter On-line and Star Trek On-line, each MMO titles, together with Misplaced Boys Interactive and Captured Dimensions. The retained studios will likely be built-in into different components of Embracer Group within the close to future. This resolution follows Embracer’s authentic acquisition of Gearbox in February 2021 for about $1.3 billion, which included shares and shares. Studies from September 2023 hinted at Embracer Group’s intention to promote Gearbox, attributed to the fallout from a failed $2 billion funding from outdoors traders.

Embracer’s latest actions embody the closure of Saints Row developer Volition in September, additionally linked to the fallout from the failed funding. Over the course of six months final 12 months, Embracer Group canceled 29 unannounced video games and shut down seven studios. Notably, one of many affected initiatives was an unannounced Deus Ex sport underneath improvement at Eidos Montreal.

Source / Via