Embracer Group sale of Borderlands studio Gearbox reportedly in "late stages" of finalisation

Embracer Group has entered into an agreement to sell Saber Interactive to Beacon Interactive, a company controlled by Saber Interactive co-founder Matthew Karch, for a purchase price of USD $247 million, the company announced.

Recent reports had indicated that Saber Interactive was on the verge agreeing a deal with parent company Embracer Group that would see it going independent. That has now been officially confirmed.

It was reported in late February that Saber Interactive was on the verge of buying back its independence from parent company Embracer Group to go independent in a deal worth $500 million, and it recent developments have indicated that that deal is edging closer to completion.

Borderlands maker Gearbox Entertainment is on the verge of joining Saber Interactive in being bought out of the sinking ship that is the Embracer Group, a new Kotaku report claims. It's stated that CEO Randy Pitchford shared the news with employees during a town hall meeting earlier this week, with more information coming in March. The site «understands that the decision was made to sell, and a deal is in the late stages of being finalized».

Swedish gaming company Embracer Group AB will sell one of its largest subsidiaries, Saber Interactive, to a group of private investors in a deal worth up to $500 million (roughly Rs. 4,142 crore), according to a person familiar with the transaction.

It's looking increasingly likely that Gearbox Entertainment is going to be sold by Embracer. In a town hall with staff earlier this week, CEO and co-founder Randy Pitchford reportedly told staff that a decision had been made regarding the studio's future, with more details to be shared in March.

A new rumor has emerged that Embracer is close to selling Gearbox Software.

Saber Interactive is reportedly splitting from the Embracer Group and going private in a $500 million deal, but Gearbox Entertainment allegedly isn’t too far behind. After Bloomberg’s Jason Schreier hinted at the same, Kotaku reported that the developer is also set to be sold, with the deal in the “late stages” of finalization.

Embracer Group gobbled up a lot of studios during its 2020-era spending spree, but perhaps the biggest acquisitions were Saber Interactive (World War Z, many, many ports) and Gearbox Software (Borderlands). It’s clear Embracer had big plans for Saber and Gearbox, as both were spun into entire company divisions with other smaller studios reporting to them, but those plans have changed – Embracer’s fortunes took a turn when a $2 billion investment from Saudi Arabia fell through and the company has been desperately cutting costs since. Apparently, this means two of their crown jewels have to go.

Gearbox Entertainment was one of the companies Embracer purchased during its massive buying spree that was followed by widespread layoffs and studio closures. As reported by Kotaku, the Borderlands maker is poised to be sold out, and more information will be shared next month.

Gearbox could be “closer than ever” to being sold off by its parent company Embracer Group, according to a new report.

Gearbox may be the next to escape Embracer Group as the massive company continues to hemorrhage staff and studios as part of a restructuring effort sparked by a $2 billion deal that fell through last year.