Take-Two Completes Acquisition of Gearbox from Embracer in $460 Million Deal

In a significant move, Take-Two has agreed to purchase Gearbox, the renowned developer of the Borderlands series, from Embracer for $460 million. The acquisition, expected to be finalized by June, will see Gearbox operate under Take-Two's 2K label, with Randy Pitchford remaining at the helm. As a result, Take-Two will not only gain full ownership of the Borderlands franchise but also acquire the rights to Homeworld, Risk of Rain, Brothers in Arms, and Duke Nukem, in addition to upcoming Gearbox titles. According to Take-Two, Gearbox is currently working on six projects, including two new Borderlands games and two Homeworld titles, as well as at least one new intellectual property. This deal is part of Embracer's restructuring efforts, following the collapse of a $2 billion agreement and the subsequent sale of Saber Interactive for $247 million. Take-Two CEO Strauss Zelnick expressed enthusiasm for the acquisition, stating it will enhance the company's creative talent and portfolio of owned intellectual property. Zelnick also highlighted the potential for long-term growth through the combination of Take-Two's resources and Gearbox's initiatives. 2K label head David Ismailer praised Gearbox's unique ability to create engaging entertainment experiences, citing their nearly 20-year history of collaboration. Randy Pitchford welcomed the new partnership, believing it will enable Gearbox to reach new heights and achieve greater success as a unified entity.