More major changes are afoot on the business side of the video game world, as a notable name is changing hands once again. Take-Two Interactive (the parent company of Grand Theft Auto publisher Rockstar and others) has to buy Gearbox Entertainment from the embattled Embracer Group. The deal is worth $460 million in stock and is expected to close by June 30. It had been that Embracer was planning to sell off Gearbox.
Take-Two is acquiring three studios: Gearbox Software, Gearbox Montréal and Gearbox Studio Quebec. It will fully own the , Tiny Tina’s Wonderlands, Homeworld, Risk of Rain, Brothers in Arms and Duke Nukem franchises, along with “Gearbox’s future pipeline.” Gearbox will operate under the umbrella of 2K, which already publishes Borderlands and Tiny Tina games. Gearbox founder and CEO Randy Pitchford will remain at the helm.
Embracer is hanging onto Gearbox Publishing San Francisco, which will be renamed. That holds the publishing rights for the Remnant series, and unannounced games. Embracer will also keep Cryptic Studios (Neverwinter Online and Star Trek Online), Lost Boys Interactive and Captured Dimensions.
Take-Two notes that Gearbox has “six key interactive entertainment projects in various stages of development.” Those include five sequels, among them Homeworld 3 and the next Borderlands game.
Embracer for an initial $363 million. If Gearbox met certain targets, the deal would have been worth just over an extra $1 billion over six years.
Since it bought Gearbox, Embracer has gone through rough times. Last year, it after a $2 billion investment deal (said to be from a group backed by Saudi Arabia’s sovereign wealth fund) fell apart. Since then, Embracer has has and . It 1,387 people in the second half of last year and canceled 29 unannounced games over a six-month period in 2023.
Elsewhere in the business of video games, Sega has sold Relic Entertainment (Warhammer 40,000 and Company of Heroes), which is thanks to the help of a mystery investor. Sega is also in Europe, adding to the extensive video game layoffs so far this year. Sega Europe, (Total War) and Hardlight Studios (Two Point Hospital) are said to have been impacted.
Trending Products
![Cooler Master MasterBox Q300L Micro-ATX Tower with Magnetic Design Dust Filter, Transparent Acrylic Side Panel…](https://m.media-amazon.com/images/I/51WfytAtGCL._SS300_.jpg)
Cooler Master MasterBox Q300L Micro-ATX Tower with Magnetic Design Dust Filter, Transparent Acrylic Side Panel…
![ASUS TUF Gaming GT301 ZAKU II Edition ATX mid-Tower Compact case with Tempered Glass Side Panel, Honeycomb Front Panel…](https://m.media-amazon.com/images/I/41JUuW8Yc5S._SS300_.jpg)
ASUS TUF Gaming GT301 ZAKU II Edition ATX mid-Tower Compact case with Tempered Glass Side Panel, Honeycomb Front Panel…
![ASUS TUF Gaming GT501 Mid-Tower Computer Case for up to EATX Motherboards with USB 3.0 Front Panel Cases GT501/GRY/WITH…](https://m.media-amazon.com/images/I/41j9qzlOi2L._SS300_.jpg)
ASUS TUF Gaming GT501 Mid-Tower Computer Case for up to EATX Motherboards with USB 3.0 Front Panel Cases GT501/GRY/WITH…
![be quiet! Pure Base 500DX Black, Mid Tower ATX case, ARGB, 3 pre-installed Pure Wings 2, BGW37, tempered glass window](https://m.media-amazon.com/images/I/41xW6xrbicL._SS300_.jpg)
be quiet! Pure Base 500DX Black, Mid Tower ATX case, ARGB, 3 pre-installed Pure Wings 2, BGW37, tempered glass window
![ASUS ROG Strix Helios GX601 White Edition RGB Mid-Tower Computer Case for ATX/EATX Motherboards with tempered glass…](https://m.media-amazon.com/images/I/41T-2v3IuML._SS300_.jpg)
ASUS ROG Strix Helios GX601 White Edition RGB Mid-Tower Computer Case for ATX/EATX Motherboards with tempered glass…
![Bgears b-Voguish Gaming PC with Tempered Glass ATX Mid Tower, USB3.0, Support E-ATX, ATX, mATX, ITX. (Note: Fan NOT…](https://m.media-amazon.com/images/I/41p2u3NJN6L._SS300_.jpg)