Gearbox Entertainment has officially been acquired by Take-Two Interactive/2K. The news was confirmed this morning after weeks of reports claiming that Embracer was looking to sell off the studio and its assets to interested parties. The deal has happened and it includes Borderlands 4.
The news came from Gearbox itself on social media as its owner Randy Pitchford shared a statement regarding the acquisition. Pitchford says he looks forward to the future with Take-Two and 2K as the studio is taken to the next level.
The “bigger” news here, however, is that Borderlands 4 has officially been confirmed by Gearbox. Part of the announcement was the confirmation that the “next iteration” of the Borderlands franchise is in active development at Gearbox. According to the official press release from Take-Two, the publisher expressed excitement regarding the Borderlands series and its new “active development” title.
“We are thrilled to welcome Randy Pitchford and his team of passionate, talented developers to 2K and we look forward to releasing numerous projects in the future as colleagues. We have loved partnering with Gearbox on every iteration of the Borderlands franchise and are excited to be in active development on the next installment in the series.”
The deal between Take-Two and Embracer is set to be completed by 30 June 2024. More details will likely be shared in the coming days. The purchase was made in the amount of $460 million.
The deal was worth quite the penny. However, Embracer hasn’t let go of everything. The company still retains ownership of some IPs including the Remnant series and Hyper Light Breaker. Embracer also still owns Gearbox Publishing San Francisco. However, that division will be renamed.
Take-Two acquires the following:
- Gearbox Software in Frisco, Texas
- Gearbox Montreal
- Gearbox Studio Quebec
- IPs: Borderlands, Tiny Tina’s Wonderlands, Homeworld, Risk of Rain, Brothers in Arms, and Duke Nukem
Embracer Group retains the following:
- Gearbox Publishing San Francisco
- Cryptic Studios
- Lost Boys Interactive
- Captured Dimensions
Gearbox Entertainment and Take-Two have a long-running relationship. Take-Two helped publish the entire Borderlands series under its 2K Games label. So the acquisition feels right.
