Embracer sells Borderlands studio Gearbox for $460 million after acquiring it for $1.3 billion just 3 years ago

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Take-Two has announced plans to acquire Gearbox Entertainment from the embattled Embracer Group, in a deal reported to be worth $460 million. The buyout makes logical sense, as Gearbox Entertainment will operate under the framework of 2K Games, which has long been the publisher of the popular Borderlands series. It’ll be led by founder Randy Pitchford.

Take-Two is acquiring Gearbox Interactive from Embracer Group for a cool $460m.

We knew Gearbox Software was about to be sold by Embracer, and today, Take-Two announced it had reached an agreement to purchase the 25-year-old Texan developer for $460 million.

More major changes are afoot on the business side of the video game world, as a notable name is changing hands once again. Take-Two Interactive (the parent company of Grand Theft Auto publisher Rockstar and others) has agreed to buy Gearbox Entertainment from the embattled Embracer Group. The deal is worth $460 million in stock and is expected to close by June 30. It had been rumored for several months that Embracer was planning to sell off Gearbox.

Embracer have announced that they're selling Borderlands developers Gearbox Entertainment to Take-Two Interactive, owners of 2K Games and GTA 6 developers Rockstar, for $460 million in Take-Two shares. Three Gearbox Software studios - the flagship studio in Texas, together with Gearbox Montréal and Gearbox Quebec - will change hands as part of the deal. Take-Two will also acquire the Borderlands and Tiny Tina's Wonderlands franchises, together with Homeworld, Risk of Rain, Brothers in Arms and Duke Nukem.

Troubled gaming conglomerate Embracer announced Thursday that it has agreed to sell Gearbox Entertainment, the studio behind the Borderlands games, to Grand Theft Auto publisher Take-Two for $460 million.