In recent weeks there had been talk of Embracer about to sell Gearbox Software and now the rumors came true: Take-Two Interactive announced that it has purchased The Gearbox Entertainment Company, a $460 million deal.
The Gearbox Entertainment Company will then become part of Take-Two Interactive Software and will work as a label of the 2K Games group, led by CEO and founder Randy Pitchford. Gearbox currently has at least six key projects in the pipeline in various stages of development, including five sequels, of which are linked to the Borderlands and Homeworld franchises.
The acquisition is expected to be completed by the first quarter of fiscal 2025 (i.e. by June 30, 2024), with this move Take-Two also acquires Gearbox’s immense catalog of intellectual properties which includes Borderlands And Tiny Tina’s WonderlandsHomeworld, Risk of Rain, Brothers in Arms and Duke Nukemas well as all the projects not yet announced.
Not just video games, Gearbox is also active in the film entertainment business and is currently co-producing the Borderlands movie. Take-Two also says it has a major expansion planned for the studio, the two parties will work to establish a roadmap full of projects that include new IPs and sequels to critically acclaimed games.
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