Take-Two Purchases Gearbox Entertainment for $460 Million

28 March 2024 at 21:05 in Gaming News with no comments

Take-Two has purchased Gearbox Entertainment from Embracer Group in a deal expected to be completed in June.

Take-Two, Gearbox

Who Owns Gearbox Entertainment?

In a deal worth $460 million, Take-Two Interactive has acquired Gearbox from Embracer Group, which will see Take-Two own Borderlands, Risk of Rain, Homeworld, and Duke Nukem.

The deal sees Borderlands move onto another publisher after Embracer only purchased the studio in 2021 in an estimated deal worth $1.3 billion, most of which is believed to have been performance-based, with $363 million of it an upfront cost.

Take-Two Acquires Gearbox Entertainment

For Gearbox, little will change, with Randy Pitchford remaining as CEO and the team continuing to work on two Borderlands games, two Homeworld games, and at least one new IP. As for Embracer, selling Gearbox is another restructuring attempt to get them out of a debt that had risen to almost $1.5 billion last March.

In nothing else, the most important part to take away is that Gearbox is continuing to make the games you love, with Pitchford stating that the deal will allow the studio to “ascend to our next level.”

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By Daniel Burrows Daniel