"Embracer Sells Gearbox, Including Borderlands, to Take-Two for $460M"

Embracer Group has sold Gearbox Software and its major franchises like Borderlands to Take-Two Interactive for $460 million, as part of Embracer's strategy to reduce net debt and become more focused. Gearbox CEO Randy Pitchford believes the deal is in the best interest of all stakeholders, while Take-Two sees it as an opportunity to expand its internal development team with proven talent and iconic intellectual property. This marks the second significant divestment by Embracer in recent weeks, following the sale of Saber Interactive assets.