Take-Two Interactive is embarking on another cost cutting program, and this one will see the company layoff about 5% of its employees by the end of the year.
Take-Two Interactive Software to acquire The Gearbox Entertainment Company
28.03.2024 - 06:35 / gematsu.com / Randy Pitchford / Interactive
Take-Two Interactive Software will acquire The Gearbox Entertainment Company from Embracer Group in a $460 million deal, the companies announced (2).
Under Take-Two Interactive Software, The Gearbox Entertainment Company will operate as a studio under the 2K label, and will be led by founder and CEO, Randy Pitchford, and his management team.
The Gearbox Entertainment currently has six “key interactive entertainment projects” in various stages of development, including five sequels, two of which are from the Borderlands and Homeworld franchises, and at least one new intellectual property.
After the sale closes, The Gearbox Entertainment Company will retain Gearbox Software, Gearbox Montreal, Gearbox Studio Quebec, and the Borderlands and Tiny Tina’s Wonderlands franchises, as well as Homeworld, Risk of Rain, Brothers in Arms, and Duke Nukem.
Embracer Group will retain Gearbox Publishing San Francisco, which will be renamed, including the publishing rights to the Remnant franchise, Hyper Light Breaker, and other “notable unannounced game releases”; Cryptic Studios, including Neverwinter Online and Star Trek Online; Lost Boys Interactive; and Captured Dimensions. Retained companies will be integrated into other parts of Embracer Group in the coming period.
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