Posted 9/11/2023, 1:45:00 PM
Embracer Group Exploring Sale of Gearbox Entertainment Amid Financial Pressures
- Embracer Group reportedly looking to sell Gearbox Entertainment, maker of Borderlands
- Sources say Embracer exploring options, including sale, as it looks to shore up finances
- Investment banks hired, buyer materials available; international gaming groups expressed interest
- Gearbox acquired by Embracer in 2021 for $1.35 billion amid acquisition spree
- News comes after Embracer layoffs, studio shutdowns in recent months amid financial pressures