Take-Two is now officially the owner of Gearbox Entertainment, with the confirmation coming from Embracer Group announcing to have closed the divestment of Gearbox to Take-Two.

The deal was announced back in March 2024, when it was clear that Embracer was doing everything it could (and drastically damaging the industry at the same time) to get all the studios it bought off its financial portfolio.

By the same token, Gearbox wanted out, and considering every Borderlands game has had 2K as its publisher, Take-Two seemed like the natural fit.

Unfortunately this deal was not immune to Embracer’s midas touch in terms of layoffs, because Gearbox Publishing wasn’t part of the acquisition, and was simply shut down by Embracer. The consolation is that the developers who worked there are still going, just now as Arc Games.

“On 28 March 2024, Embracer Group AB (“Embracer”) entered into an agreement to divest Gearbox Entertainment to Take-Two Interactive Software, Inc. All conditions for the transaction have now been fulfilled, and the transaction has been closed today,” Embracer confirmed.

Hopefully what’s coming for Gearbox Entertainment now isn’t more layoffs, especially since Take-Two just got done with its latest round.

Posted: Jun 17, 2024 11:29 am
Related Forum: Gaming Discussion

Source: https://www.psu.com/news/take-two-now-officially-owns-gearbox-entertainment-as-acquisition-completes/