Embracer and Take-Two close deal for Gearbox Entertainment
At the end of March, the Embracer Group holding announced the sale of Gearbox Entertainment to Take-Two Interactive. On June 11, the Swedish conglomerate announced that the terms of the deal had been met and the sale had officially closed.
Gearbox Entertainment is now owned by Take-Two. The company will operate under the 2K Games brand. The transaction value is estimated at $460 million. Gearbox’s publishing label remained under Embracer and changed its name to Arc Games.
Together with Randy Pitchford’s company, Take-Two acquired the rights to Borderlands, Homeworld, Risk of Rain, Brothers in Arms, Duke Nukem and future Gearbox Software releases.
Embracer Group bought Gearbox in 2021 – then the deal was valued at $1.3 billion.
