The Gearbox Entertainment Company and Embracer Group announce the consummation
of the merger between the two companies
first announced in February.
Here's the news:
The Gearbox Entertainment Company and Embracer Group
announced today that they successfully closed on their up to $1.3 billion merger
agreement. Embracer and Gearbox announced in February of 2021 their intention to
merge. With this, Gearbox Entertainment is the seventh operating group in the
Karlstad, Sweden-headquartered Embracer Group, which has an extensive catalogue
of more than 240 franchises and more than 7,000 employees around the world. The
merger fuels positions Gearbox for rapid growth with its robust IP catalogue,
AAA development studios, and North American publishing capabilities.
“Our team is incredibly excited about the opportunity we now have,” said Randy
Pitchford, founder of The Gearbox Entertainment Company. “Far from riding off
into the sunset, we are now positioned to launch new IP, do more with our
existing brands, grow our base of incredibly talented team members, and
capitalize on new opportunities in our mission to entertain the world. This just
With its 550 team members in Frisco, Texas and Quebec City, Gearbox
Entertainment is best known for its critically and commercially successful
Borderlands and Brothers in Arms franchises and the development of
award-winning, best-selling games in the Half-Life, Counter-Strike, Tony Hawk’s
Pro Skater, 007 James Bond, and Halo franchises.
“This was the largest merger that Embracer has undertaken. I am grateful to
Randy and his entire team for their enthusiasm, creativity and vision, says Lars
Wingefors, founder and CEO of Embracer Group. "We are confident in Gearbox's
long-term future within Embracer Group."