Gearbox Entertainment, known for the beloved Borderlands series, has been acquired by Take-Two Interactive/2K. The news, although not entirely unexpected due to prior speculations regarding Borderlands and Gearbox's status within Embracer Group, caught many fans off guard with its late-night announcement.
The acquisition was confirmed through a simple post on Gearbox's social media. Founder Randy Pitchford expressed excitement about the partnership with Take-Two Interactive and 2K, hinting at a promising future for the company. Part of this optimism stems from the revelation that the development of Borderlands 4 is currently underway, as stated in Take-Two's official announcement.
Take-Two/2K's statement on the acquisition outlined a completion target of June 30, 2024, along with a focus on the ongoing progress of Borderlands 4. According to 2K president David Ismailer, the collaboration with Gearbox has been fruitful across previous Borderlands titles, paving the way for an exciting new chapter in the franchise.
In the deal, Embracer retains ownership of specific IPs and subsidiaries, such as the soon-to-be-renamed Gearbox Publishing San Francisco. Additionally, Embracer maintains rights to publish titles like the Remnant series, Hyper Light Breaker, and more. Further specifics on the transaction, including assets transferred and retained, are available through Market Screener.
Gearbox x Take-Two Acquisition Breakdown
- Take-Two acquires:
- Gearbox Software based in Frisco, Texas
- Gearbox Montreal
- Gearbox Studio Quebec
- IPs: Borderlands, Tiny Tina's Wonderlands, Homeworld, Risk of Rain, Brothers in Arms, and Duke Nukem
- Embracer Group retains:
- Gearbox Publishing San Francisco
- Cryptic Studios
- Lost Boys Interactive
- Captured Dimensions
The acquisition of Gearbox by Take-Two marks another significant move in Embracer's strategic realignment following a series of acquisitions in recent years. This restructuring included the division of Saber Interactive, the studio reportedly working on a KOTOR Remake, as well as staff layoffs and the cancellation of multiple projects, including a new Deus Ex installment.