In a groundbreaking move, Take-Two Interactive Software, Inc. has announced its definitive agreement to acquire Gearbox Entertainment Company from Embracer Group for a staggering $460 million.
This acquisition not only signifies a significant shift in the gaming industry but also comes with the exciting confirmation that Borderlands 4 is currently in development, much to the delight of franchise enthusiasts worldwide.
The Acquisition Deal
Gearbox Entertainment, renowned for its iconic Borderlands franchise and a portfolio of other acclaimed titles such as Risk of Rain, Brothers in Arms, and Tiny Tina’s Wonderlands, will now become a part of the Take-Two Interactive family.
Additionally, Take-Two revealed that Gearbox is actively working on two new Borderlands games, as well as two Homeworld titles, and an exciting new IP.
We're incredibly proud to announce we're joining the Take-Two Interactive/@2K family. pic.twitter.com/ot1gJK4TUp
— GearboxOfficial (@GearboxOfficial) March 28, 2024
A New Chapter for Gearbox
Randy Pitchford, Founder of Gearbox Entertainment, expressed his enthusiasm about the acquisition, stating that joining forces with Take-Two Interactive/2K will propel Gearbox to new heights. He emphasized Take-Two’s commitment to fostering creativity and innovation, which aligns perfectly with Gearbox’s vision for interactive entertainment.
With this acquisition, Gearbox aims to continue setting the bar for groundbreaking gaming experiences while achieving remarkable success in the industry.
Previous Ownership and Restructuring
Embracer Group initially acquired Gearbox in 2021, with an upfront cost of $363 million and a potential payout of up to $1.3 billion based on performance results. However, recent setbacks, including layoffs and studio closures, prompted Embracer Group to sell Gearbox to Take-Two Interactive.
Embracer Group’s restructuring efforts aim to stabilize finances following a failed $2 billion partnership deal and subsequent financial challenges.
Exciting Developments for Borderlands Fans
Amidst the acquisition news, Borderlands fans have reason to rejoice as Borderlands 4 is officially confirmed to be in development. While details about the release date are yet to be disclosed, fans can anticipate more Borderlands content with the upcoming release of the Borderlands film on August 9, 2024.
As the gaming community eagerly awaits further updates, stay tuned to esports.gg for the latest news and developments in the world of esports and gaming.
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