Borderlands creator Gearbox Entertainment is being acquired by the Embracer Group for $1.3 billion. Gearbox will become Embracer Group’s seventh operating group. Embracer Group is the parent company pf over 200 franchises including Saints Row, Darksiders, Metro, World War Z and more. The merger enables the studio to now work on with more existing brands, create new brands and merge with other properties on new projects.
Gearbox Entertainment confirmed that Randy Pitchford will continue his role as head of the division which he founded back in 1999. Randy Pitchford, founder of Gearbox, in a statement, said:
“Lars’s vision of Embracer as an allied partner group committed to fueling and accelerating the ambitions of a series of decentralized, successful entrepreneurial companies while magnifying the collective value and advantages of diversification across the entire group is the most brilliant strategy and design for short, medium, and long-term success in this industry that I have ever encountered in my 30 years in this industry. The feeling at Gearbox is that we are just getting started and this transaction is not merely a stimulant for the talent of our employee-owned company, but a propellent for the exciting future we have planned.”
Embracer Group claims that Gearbox generated $123 million in sales in the first nine months fo 2020. This is mainly due to the success of its most recent title Borderlands 3. However, Gearbox Entertainment is also known for other games such as Brothers in Arms, Homeworld, Duke Nukem and more. They are also responsible for publishing games such as Hello Neighbor, We Happy Few, Godfall and more.
We are incredibly excited and proud of today’s news that The Gearbox Entertainment Company is joining Embracer Group!
— GearboxOfficial (@GearboxOfficial) February 3, 2021
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