Another company escaping publisher Embracer Group’s mammoth, acquisition-hungry mouth as Borderlands Developer Gearbox Software has been sold to Take-Two Interactive.This is consistent with my cityprevious reports The matter was discussed in February, with sources telling us Gearbox was up for sale. Embracer acquires Gearbox for $1.3 billion, then sells the company at huge loss 2021Take-Two paid just $460 million to bring the Texas-based company on board.
Under the Corporations Act, Embracer does retain rights to parts of Gearbox’s business Terms of saleincluding Gearbox’s San Francisco publishing arm (to be renamed), publishing rights are left franchiseand the upcoming super light destroyer From the heart machine. Embracer will also still release some “unannounced” games that are part of the Gearbox portfolio, but no further details were revealed in the official announcement. Embracer also retains Cryptic Studios, which developed Neverwinter Online and star trek onlineLost Boys Interactive, has recently done the following support work Little Tina’s Wonderland, and 3D modeling company Captured Dimensions. All of these companies are “expected to contribute positive cash flow in the future,” the deal said.
The entire transaction will be paid for in newly issued Take-Two shares, with closing expected to close by the end of Embracer’s first fiscal quarter, which will end in June 2024. As for the next plan for Take-Two’s Gearbox, separate press release Publisher reveals Gearbox is actively developing a new game Borderlands series, and the next game in the real-time strategy series home.
Embracer also sold off just two weeks ago Saber Interactiveitself after cancellation Embracer has nearly 30 games in its portfolio and the loss of more than 1,300 jobs. Embracer’s years-long acquisition spree Impacted the lives of thousands of workers In the video game industry, all it’s shown is job losses, game cancellations, and the sale of these companies for less than half of what they were purchased for. What a shit show.