Posted 3/28/2024, 11:29:40 AM
Take-Two Buys Gearbox, Borderlands IP for $460M in Stock Deal with Embracer
- Embracer is selling Borderlands developer Gearbox to Take-Two Interactive for $460 million in shares
- Take-Two acquires Borderlands, Tiny Tina's Wonderlands, and other Gearbox IPs
- Embracer keeps rights to Remnant series, Hyper Light Breaker, and other unannounced games
- Embracer will sell the Take-Two shares they receive, expecting $300-330 million
- Embracer says sale is due to high costs and business risks of Gearbox's growth plans