Gearbox Entertainment, the creator of Borderlands, says it’s been bought by Embracer Group, in a deal that could cost up to $1.3 billion [via VentureBeat].
The Texas-based game developer will be the latest to join the company, formerly known as THQ Nordic AB. The move will make Gearbox into Embracer’s seventh operating group after it acquires its team of 550 people. Embracer’s recent round of acquisitions has been compared to that of Microsoft’s, as the company managed to add 12 game studios and a PR company to its roster in just one day.
Gearbox also confirmed that it’s current head and founder, Randy Pitchford, would retain his role after the transaction. Pitchford also provided a statement in regards to the news, stating the following:
“Lars’s (head of Embracer Group) vision of Embracer as an allied partner group committed to fueling and accelerating the ambitions of a series of decentralized, successful entrepreneurial companies while magnifying the collective value and advantages of diversification across the entire group is the most brilliant strategy and design for short, medium, and long-term success in this industry that I have ever encountered in my 30 years in this industry.”
Lars Wingford, head of Embracer group, also commented on the acquisition, stating that “Gearbox is arguably one of the most creative and valuable independent developers in the world,” and that they “believe that the resources offered by Embracer will position Gearbox for significant growth in the years to come.”
Gearbox was first founded in 1999 and has since gone on to develop the likes of Borderlands, Duke Nukem and not mention everyone’s favourite of all time, Aliens: Colonial Marines (favourite failure, that is). The company’s publishing unit has also brought us the likes of Hello Neighbor, We Happy Few, Risk of Rain and Godfall.
What’s your opinion on Gearbox being bought by Embracer?
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Featured Image Credit: Gearbox