Gearbox Software announces they are now a cog in the Embracer Group. The
headline calls the $1.3 billion deal a merger, though it sounds like a purchase:
"The transaction, which is worth up to $1.3B, also provides Gearbox with access
to capital, adding rocket fuel to Gearbox's powerful creative engine, and
positions Gearbox's robust IP catalogue, AAA development studios, and North
American publishing capabilities to become a significant part of the Embracer
Group's diverse and robust family of member companies."
2K Games tells GamesIndustry.biz that they are continuing on as the
publisher of the
Borderlands series. Here's what Gearbox says the future
holds:
The Gearbox team has developed and engaged a plan for immediate and
long-term growth that includes the expansion of talent at both studios, the
creation of new Gearbox studios, and expanded partnerships. This merger enables
Gearbox to do more with its existing brands, create new brands, and,
potentially, undertake the merger and acquisition of other successful industry
and industry-adjacent entities and properties.
“Gearbox is arguably one of the most creative and valuable independent
developers in the world,” commented Lars Wingefors, founder and CEO of Embracer
Group. “We believe that the resources offered by Embracer will position Gearbox
for significant growth in the years to come.”
Gearbox confirmed that Randy Pitchford will continue in his current role as head
of Gearbox Entertainment. Pitchford accented the prioritization of Gearbox’s
talent and its partners in the course of this transaction and expressed his
eagerness and excitement to maintain and increase the value of its relationships
with the Gearbox team, Gearbox customers, and Gearbox allies.