Take-Two will acquire developer Gearbox from Embracer for $460 million. The deal for the studio, which operates from three offices in the US and Canada, is expected to close in June.
Gearbox is responsible for the Borderlands series, which is already published by Take-Two, and the two have already worked together on the next Borderlands game. In addition to Borderlands, Take-Two will also own Homeworld, Risk of Rain, Brothers in Arms and Duke Nukem, in addition to future titles from Gearbox. Take-Two says Gearbox is working on six titles, including two Borderlands games and two Homeworld titles, plus “at least” one new IP.
Current owner Embracer Group bought Gearbox in 2021 in a deal potentially worth $1.3 billion. This was largely performance-based compensation, with upfront costs of $363 million, of which $175 million was in Embracer stock.
The sale of Gearbox is part of Embracer’s ongoing restructuring program. It follows a $2 billion deal that fell through for Embracer, resulting in multiple layoffs and studio closures. Earlier this month, it sold Saber Interactive and associated studios for $247 million.
