Take-Two Interactive Acquires Gearbox Entertainment for $460 Million

28 March 2024

Embracer Group released a press statement announcing the sale of Gearbox Entertainment (for $460 million), known for Borderlands, to Take-Two Interactive — the publisher behind GTA and Red Dead Redemption.

It's noteworthy that Embracer Group itself had acquired Gearbox Entertainment in 2021 for $1.3 billion.

The reason for the sale is explained as a crucial step in Embracer Group's transformation to reduce net debt, lower business risks, and become a more compact and focused company.

Thanks to this deal, Take-Two Interactive has gained rights to game series such as Borderlands, Tiny Tina's Wonderlands, Homeworld, Risk of Rain, Brothers in Arms, and Duke Nukem.

It's reported that Take-Two will pay for the Gearbox acquisition with recently issued shares, which should bring Embracer Group potential future profits.

The press release also mentions that the Gearbox Publishing San Francisco division still belongs to Embracer Group but will be renamed as part of the deal.

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