Gearbox Software has joined the likes of THQ Nordic, Deep Silver, and Coffee Stain as the latest company to be acquired by the monolithic Embracer Group. The Group announced their intention to buy the Borderlands and Duke Nukem Forever gangs in February, and the deal was finalized yesterday. Gearbox has stated that they intend to create new games as well as revisit old worlds in some way.
“Our team is incredibly excited about the opportunity we now have,” Gearbox CEO Randy Pitchford said. “Far from riding off into the sunset, we are now positioned to launch new IP, do more with our existing brands, grow our base of incredibly talented team members, and capitalise on new opportunities in our mission to entertain the world. This just the start.”
I wouldn’t get too excited just yet because “do more with our existing brands” could mean anything from new sequels to selling Duke Nukem-branded toilet seat covers.
Embracer is paying $363 million (approximately £260 million) in cash and stock for Gearbox, with an additional $1015 million (approximately £735 million) to be paid if Gearbox meets certain targets in the years ahead. Gearbox will join the likes of THQ Nordic and Deep Silver as the eighth operative group within Embracer, giving them more freedom than many of the companies acquired by Embracer’s arms.
Borderlands publisher 2K stated in February that the situation would have no bearing on their relationship with Gearbox or any other projects they were working on with them.
Embracer also completed their acquisitions of port peeps Aspyr and mobile devs Easybrain, which were announced alongside the Gearbox deal, according to yesterday’s announcement.
The company claims to have over 7000 employees across all of its divisions and 60 studios. That’s approaching Electronic Arts’ size, which had 9800 full-time employees as of March 2020. And it’s a colossal name for a company that few people have heard of (which is partly due to the fact that this is their third name, following Nordic Games and THQ Nordic). The games industry continues to consolidate.
Source: Rock Paper Shotgun