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Video game adaptations are on a hot streak. Films like The Super Mario Bros. Movie and Sonic the Hedgehog 2 were massive box office hits, while series like The Last Of Us and Halo have made for stellar TV shows.
Gearbox Publishing announced it is rebranding to Arc Games in the wake of its separation from parent company Gearbox Entertainment. Following Take-Two Interactive's purchase of the publisher's parent company and associated IPs, fans wondered how Gearbox Publishing might continue after it was left out of the sale by Embracer Group.
Over six months ago, independent developer Ascendant Studios promised to bring AMD FSR 3 to the console versions of Immortals of Aveum. No console game so far includes any frame generation technique, making this a world-first.
Good news, everyone! Embracer Group is bringing an end to its restructuring process. You know, the one that followed in the wake of its collapsed $2 billion deal, resulting in the closure of Volition and Free Radical, the layoff of over 1,300 developers, the cancellation of a new Deus Ex, and a fire-sale of studios that include Saber Interactive and, most recently, Borderlands developer Gearbox.
Embracer CEO Lars Wingefors has told investors he believes it’s “too early” for the group to start considering studio acquisitions again, following the completion of its costly restructuring.
Gearbox Entertainment has been hit with a wave of layoffs, mere hours after the game development company announced its pending acquisition by Take-Two Interactive. After recent rumors that the company was potentially up for sale, it was confirmed on March 27 that Embracer Group will be selling Gearbox for $460 million. This comes after nearly a year of the Swedish media conglomerate divesting itself, through sale or closure, of multiple subsidiaries to increase cash flow.
Embracer Group finally confirmed that it is selling Borderlands studio Gearbox Entertainment to Take-Two Interactive, but there’s a catch: Embracer Group will retain ownership of Gearbox Publishing.
We knew Gearbox Software was about to be sold by Embracer, and today, Take-Two announced it had reached an agreement to purchase the 25-year-old Texan developer for $460 million.