Embracer Group, previously known for its aggressive acquisition strategy in the gaming industry, has recently shifted its focus towards a reorganization effort. As part of this effort, they have been selling off studios, including the recent sale of Saber Interactive to Beacon Interactive for $274 million. This sale was far below the initially reported price of up to $500 million.
Take-Two has had a longstanding relationship with Gearbox through its subsidiary 2K, which has published games from the developer before. The most notable franchise that they have collaborated on is Borderlands, which is not only a successful video game series but is also set to have its own film adaptation. With this acquisition, Take-Two aims to strengthen its creative talent and expand its portfolio of owned intellectual property.
Gearbox’s founder and CEO, Randy Pitchford, along with his management team, will continue to lead the studio even after the acquisition. This ensures that the expertise and vision that have made Gearbox successful will remain intact.
In a press release sent to GamesBeat, Strauss Zelnick, Chairman and CEO of Take-Two, expressed his excitement about the acquisition. He stated, “Our acquisition of Gearbox is an exciting moment for Take-Two and will strengthen our industry-leading creative talent and portfolio of owned intellectual property, including the iconic Borderlands franchise.” Zelnick also highlighted that this acquisition will enhance the financial profile of their existing projects with Gearbox and provide opportunities for long-term growth by leveraging the resources of Take-Two.
This acquisition is expected to be finalized in the first quarter of Take-Two’s Fiscal Year 2025, which ends on June 30, 2024.
Overall, this move by Take-Two to acquire Gearbox showcases their commitment to expanding their creative talent and intellectual property portfolio. With the iconic Borderlands franchise under their belt, Take-Two is well-positioned to continue delivering exciting and innovative gaming experiences to their audience. Gamers can look forward to what this partnership will bring in the future as Take-Two and Gearbox join forces to push the boundaries of interactive entertainment.
