Home Latest Feeds Technology News Take-Two is taking over the Gearbox Software studio, known, among others, for the Borderlands series

Take-Two is taking over the Gearbox Software studio, known, among others, for the Borderlands series

0
Take-Two is taking over the Gearbox Software studio, known, among others, for the Borderlands series

[ad_1]

Take-Two is taking over the Gearbox Software studio, known, among others, for the Borderlands seriesAs most people familiar with the video game industry know, Embracer found itself in a difficult financial situation some time ago. As a result, the company began to lay off employees en masse and close its studios. Gearbox Software, the creators of Borderlands shooters, among others, were more lucky. In this case, Embracer found a company willing to take over the studio. The buyer is Take-Two Interactive, the owner of, among others, Rockstar Games.

Gearbox Software will soon be taken over by Take-Two Interactive. The transaction amounts to a total amount of USD 460 million, which will be received in the form of shares by the current owner of the studio, the Embracer Group.

Take-Two is taking over the Gearbox Software studio, known, among others, for the Borderlands series [1]

Embracer Group plans to sell Borderlands developer Gearbox. This is the result of a failed investment agreement

Take-Two announced the transaction in an official press release press release. The amount is not staggering if we compare it with the amount that Embracer spent three years ago to purchase Gearbox. The studio will be taken over by Take-Two for a total amount of USD 460 million. Embracer acquired the creators of Borderlands in 2021 for $1.3 billion, so ultimately the Swedish entity lost a lot. The point is that the company probably had little choice if it ultimately hoped to get out of its difficult financial situation. The agreement also does not cover some of Gearbox’s resources, including some contracts for publishing third-party games, the success of which Take-Two was not sure of (Gearbox has recently also been involved in publishing activities). It can be assumed that the release of the contracted games will be the responsibility of an entity belonging to the Embracer Group, but we do not know the details of this process.

Take-Two is taking over the Gearbox Software studio, known, among others, for the Borderlands series [2]

Embracer withdraws from Russia. Part of Saber Interactive will be sold, and the changes may ultimately also affect the creators of the Metro series

The entire transaction amount will be paid via newly issued Take-Two shares. It is expected to be finalized before the end of June this year. The acquired resources include the Borderlands, Homeworld, Risk of Rain, Brothers in Arms, Duke Nukem and other series. From the announcement we also learned that work is already underway on the next installment of Borderlands, as well as at least one new franchise. In practice, the takeover of Gearbox by an American entity is very good news for gamers. The fate of each studio belonging to Embracer Group is now very uncertain. It is also not clear which of the projects will ultimately be finalized, or when the Swedish company will actually have a chance to deal with the problems caused by the withdrawal of a key investor. Gearbox, under the wings of Take-Two, has a chance to conduct its development and probably publishing activities relatively calmly.

Source: Take-Two, WCCFTech



[ad_2]

LEAVE A REPLY

Please enter your comment!
Please enter your name here