The Swedish group Embracer is selling game developer Gearbox Entertainment to the American giant Take-Two Interactive. This amounts to 460 million dollars (the equivalent of 425 million euros). The deal should be completed next year.
Gearbox is the maker of the popular Borderlands games and the Brothers in Arms series. It has offices in the United States and Canada. Take-Two is transferring Gearbox to its game publisher 2K, which already published the Borderlands games in the past. “We look forward to also being active in developing the next installment of the series,” said 2K CEO David Ismailer.
In addition to 2K, Rockstar Games is also part of Take-Two Interactive. That is the publisher of the successful Grand Theft Auto and Red Dead series.
Debt reduction
Debt-laden Embracer has undergone a downsizing process over the past year, closing several studios and cutting jobs, as well as selling off parts. CEO Lars Wingefors calls the sale of Gearbox an important step in the Swedish group’s debt reduction.
Embracer currently has 132 game studios – including the Belgian Appeal Studios – with more than 15,000 employees in more than forty countries.
