Take-Two to Acquire Gearbox

Take-Two Interactive Software announced that it is acquiring The Gearbox Entertainment Company from Embracer Group. The deal is valued at $460m and will be completed during Take-Two’s Fiscal Year 2025, which begins on July 1, 2024. The deal will see Take-Two acquiring Gearbox’s intellectual property, including the Borderlands, Homeworld, and other franchises. Gearbox will act as a development studio within Take-Two’s 2K division led by its founder and CEO Randy Pitchford. Embracer Group will retain Gearbox Publishing San Francisco, which will be renamed, as well as publishing rights to the Remnant franchise, Hyper Light Breaker, and others.

Gearbox was founded in 1999 and started out by developing expansions to Half-Life. It also created PC ports for a number of titles before working on the Brothers in Arms series. In 2009 it created the Borderlands franchise, which has received multiple entries and spin-offs including the recent Borderlands 3 and Tiny Tina’s Wonderlands. Other titles developed include Duke Nukem Forever, Aliens: Colonial Marines, and Battleborn.