First announced two years ago, at Sony’s showcase in 2021,Star Wars: The Old Republic’s remake is seemingly being officially scrubbed from around the internet. Could the project be another casualty as part of Embracer Group’s reorganization?
12.09.2023 - 09:35 / techradar.com
Gearbox Entertainment, the developer of the Borderlands franchise, is reportedly being put up for sale by parent company Embracer Group.
The team that most recently put out titles including Borderlands 3and Tiny Tina's Wonderlands was fully acquired by Embracer Group in 2021 for approximately $1.3 billion. This was part of a string of purchases made by the Swedish holding company, which also owns THQ Nordic, Plaion (formerly Koch Media), Saber Interactive, and Crystal Dynamics among many more.
A report from Reuters now suggests that Embracer Group is looking to sell Gearbox Entertainment, according to three anonymous sources. The sources claim that a number of «international gaming groups» are interested in acquiring the Borderlands creator, who also published the critically and commercially successful Remnant 2a month ago.
Embracer's desire to sell Gearbox Entertainment may have been borne from what is reportedly a rough year for the holding company. Back in May, it was reported that a «groundbreaking strategic partnership» worth $2 billion fell through at the last minute (via PC Gamer). This latest report also closely follows the closing of Saints Rowdeveloper Volition, the reboot of which was received poorly by series fans and critics alike.
Furthermore, Gearbox Entertainment CCO Dan Hewitt recently told Bloomberg that «there are many options under consideration» in regards to Gearbox's future ownership, which may include a transfer to another company or «taking Gearbox independent.»
As for which parties are interested in acquiring Gearbox Entertainment from Embracer Group, that remains a mystery. But it wouldn't be a surprise to learn that gaming giants like Tencent, Xbox Game Studios, or Sony Interactive Entertainment would be partial to the buyout, given how valuable the Borderlands IP continues to be.
For more games like the Borderlands series, consider checking out our guides to the best FPS games and the best co-op games .
First announced two years ago, at Sony’s showcase in 2021,Star Wars: The Old Republic’s remake is seemingly being officially scrubbed from around the internet. Could the project be another casualty as part of Embracer Group’s reorganization?
In the aftermath of Embracer Group failing to close a deal with Savvy Group worth $2 billion earlier this year, the company has suffered some financial setbacks. In June, it revealed that it was instituting a restructuring program that would entail layoffs, studio closures, and upcoming projects being cancelled.
The Embracer Group has been struggling with financial issues in recent months, having failed to close an undisclosed deal worth $2 billion earlier in the year, in the wake of which the company announced that it would be shuttering studios, laying off employees, and cancelling unannounced games as part of a widespread restructuring program.
Tomb Raider developer Crystal Dynamics has confirmed ten employees have lost their jobs as part of an «internal restructuring» programme, following multiple accounts from employees that the studio had been hit with lay offs today.
Embracer has made a new round of layoffs, this time at Mythforce developer Beamdog less than 18 months after its acquisition.
Embracer Group has made layoffs at Baldur's Gate: Enhanced Edition and Mythforce developer Beamdog less than two years after acquiring the studio.
Yesterday (Tuesday, September 12), it was announced that the game engine Unity will soon begin charging developers a monthly fee based on the number of installs their games have, in a move that has left many indie studios upset and frustrated.
Borderlands developer Gearbox is reportedly up for sale by parent company Embracer Group. As per Reuters, the Swedish conglomerate is looking to restructure following a $2 billion (about Rs. 16,586 crore) deal with Saudi Arabia government-funded Savvy Games Group that fell through, earlier this year. The fallout resulted in the former cutting down on spending, in addition to closing down studios and laying off its employees. Having been acquired merely two-and-a-half years ago, Gearbox is now the latest victim, with some alleged third-party publishers expressing interest in acquiring the developer. No names were mentioned, though they were described as “international gaming groups.”
Embracer is reportedly considering the sale of Borderlands developer Gearbox Entertainment just over two years after it purchased the company for $1.38 billion.
Rainbow Studios is apparently the latest studio in the firing line of Embracer's restructuring efforts.
Embracer Group's ongoing restructuring efforts have seemingly resulted in layoffs at MX vs ATV Legends developer Rainbow Studios.
Following a botched $2 billion deal, Swedish gaming conglomerate Embracer Group has been offloading studios — like Saints Row developer Volition — in an effort restructure the company. Its next target? Borderlands developer and publisher Gearbox Entertainment, Reuters reported on Monday.