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Following Embracer Group’s sale of Gearbox Entertainment, Gearbox Publishing has rebranded to Arc Games. The newly minted label will handle publishing for Hyper Light Breaker when it launches, as well as other Gearbox projects.
Gearbox Entertainment has confirmed layoffs at the company, following the announcement of its sale by Embracer.
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.
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.
More major changes are afoot on the business side of the video game world, as a notable name is changing hands once again. Take-Two Interactive (the parent company of Grand Theft Auto publisher Rockstar and others) has agreed to buy Gearbox Entertainment from the embattled Embracer Group. The deal is worth $460 million in stock and is expected to close by June 30. It had been rumored for several months that Embracer was planning to sell off Gearbox.
Gearbox Entertainment has revealed that Borderlands 4 is in "active development," and is but one of several projects the developer plans to release with new owner Take-Two.
Embracer Group has sold Borderlands developer Gearbox for $460 million USD, after acquiring the developer for roughly $1.3 billion just over three years ago.