The wholesale purge of media holdings company Embracer Group rolls forward. According to Businesswirecom, the Swedish publisher sold off one of their past acquisitions, Gearbox Software, to American publishing giant Take-Two Interactive for $460 million dollars, following a failed investment. Take-Two had previously published several Gearbox titles under their 2K label. This acquisition is expected to be completed during the first quarter of Take-Two's fiscal year 2025, and will turn the properties of Borderlands, including its spin-off, the Tiny Tina's Wonderlands franchise, the Homeworlds series, and Duke Nukem under Take-Two's publishing umbrella.

“Our acquisition of Gearbox is an exciting moment for Take-Two and will strengthen our industry-leading creative talent and portfolio of owned intellectual property, including the iconic Borderlands franchise,” spoke Strauss Zelnick, Chairman and CEO of Take-Two. “This combination enhances the financial profile of our existing projects with Gearbox and unlocks the opportunity for us to drive increased long-term growth by leveraging the full resources of Take-Two across all of Gearbox’s exciting initiatives.”

The former owners will retain Gearbox San Francisco, Lost Boys Interactive, Captured Dimensions, and Cryptic Studios. they'll also retain the publishing rights to Remnant, Hyper Light Breaker, and several upcoming unannounced titles. Embracer Group originally purchased Gearbox Software in 2021 for approximately $1.2 billion dollars in 2021, making a little more than half of its initial purchase value with the sale to Take-Two. 

SOURCE: Businesswire.com