Embracer sells Borderlands studio Gearbox for $460 million after acquiring it for $1.3 billion just 3 years ago
Mar. 28, 2024Embracer retains Gearbox’s publishing arm, however
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Embracer Group has sold Borderlands developerGearboxfor $460 million USD, after acquiring the developer for roughly $1.3 billion just over three years ago.
Earlier today, Embracer Groupannouncedit had completed the sale of Borderlands studio Gearbox Entertainment for $460 million USD to Take-Two Interactive. The deal includes the sale of Gearbox’s Austin, Texas and Quebec, Montreal studios, as well as the franchise rights to the Borderlands, Tiny Tina, Homeworld, Risk of Rain, and Duke Nukem series.
However, Embracer is retaining the publishing arm of Gearbox, which includes the rights to games such as Remnant 2, and the forthcoming Hyper Light Breaker. There’s also “other unannounced games” retained via Gearbox’s publishing arm for Embracer Group.
Embracer is also keeping the rights to Neverwinter Online and Star Trek Online, two MMO titles, as well as Lost Boys Interactive and Captured Dimensions. Embracer further adds that the two retained studios will be “welcomed and integrated into other parts of Embracer Group in the coming period.”
Embracer shuttered Saints Row developer Volitionback in September, also due to the fallout of the failed investment. Over a period of six months last year,Embracer Group canceled 29 unannounced gamesand shuttered seven studios, one of which was an unannounced Deus Ex game which had been in development at Eidos Montreal for several years.
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