Take-Two Acquires Gearbox Entertainment, Maker of Borderlands, for $460M
TL;DR Summary
Embracer is selling Borderlands developer Gearbox Entertainment to Take-Two Interactive for $460 million in shares, with three Gearbox Software studios and several franchises changing hands. Embracer will retain other studios and game rights, and plans to sell the Take-Two shares for an expected $300-330 million. The sale is part of Embracer's ongoing restructuring program, following layoffs and studio closures, and CEO Lars Wingefors emphasized the need to focus on IPs with greater economic upside.
Topics:technology#acquisition#business-gaming#embracer#gearbox-entertainment#restructuring#take-two-interactive
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- Video Game Publisher Take-Two Interactive to Acquire ‘Borderlands’ Maker Gearbox for $460M Hollywood Reporter
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