Take-Two's Acquisition of Gearbox Entertainment Signals New Borderlands Game Development

Take-Two Interactive has acquired Gearbox Entertainment from Embracer Group for $460 million, with the purchase price to be paid in Take-Two shares. Gearbox will join Take-Two's 2K division and continue to be led by CEO Randy Pitchford. The acquisition includes the development of a new Borderlands game, a new Homeworld game, and at least one new intellectual property. Embracer will retain certain publishing rights and other assets, while gradually shedding studios after a failed acquisition spree last year.