CRYPTOREPORTCLUB
  • Crypto news
  • AI
  • Technologies
Friday, July 18, 2025
No Result
View All Result
CRYPTOREPORTCLUB
  • Crypto news
  • AI
  • Technologies
No Result
View All Result
CRYPTOREPORTCLUB

Take-Two is buying Gearbox from Embracer for $460 million

March 28, 2024
159
0

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.

Take-Two is acquiring three studios: Gearbox Software, Gearbox Montréal and Gearbox Studio Quebec. It will fully own the Borderlands, Tiny Tina’s Wonderlands, Homeworld, Risk of Rain, Brothers in Arms and Duke Nukem franchises, along with “Gearbox’s future pipeline.” Gearbox will operate under the umbrella of 2K, which already publishes Borderlands and Tiny Tina games. Gearbox founder and CEO Randy Pitchford will remain at the helm.

Related Post

Remedy lays out its plan to fix FBC: Firebreak, which includes improved onboarding

Remedy lays out its plan to fix FBC: Firebreak, which includes improved onboarding

July 18, 2025
What the hell is going on with Subnautica 2?

What the hell is going on with Subnautica 2?

July 18, 2025

Embracer is hanging onto Gearbox Publishing San Francisco, which will be renamed. That holds the publishing rights for the Remnant series, Hyper Light Breaker and unannounced games. Embracer will also keep Cryptic Studios (Neverwinter Online and Star Trek Online), Lost Boys Interactive and Captured Dimensions.

Take-Two notes that Gearbox has “six key interactive entertainment projects in various stages of development.” Those include five sequels, among them Homeworld 3 and the next Borderlands game.

Embracer bought Gearbox in 2021 for an initial $363 million. If Gearbox met certain targets, the deal would have been worth just over an extra $1 billion over six years.

Since it bought Gearbox, Embracer has gone through rough times. Last year, it announced a major restructuring after a $2 billion investment deal (said to be from a group backed by Saudi Arabia’s sovereign wealth fund) fell apart. Since then, Embracer has has closed several studios and sold off others. It laid off 1,387 people in the second half of last year and canceled 29 unannounced games over a six-month period in 2023.

Elsewhere in the business of video games, Sega has sold Relic Entertainment (Warhammer 40,000 and Company of Heroes), which is now an independent studio thanks to the help of a mystery investor. Sega is also cutting around 240 jobs in Europe, adding to the extensive video game layoffs so far this year. Sega Europe, Creative Assembly (Total War) and Hardlight Studios (Two Point Hospital) are said to have been impacted.

This article originally appeared on Engadget at https://www.engadget.com/take-two-is-buying-gearbox-from-embracer-for-460-million-145711528.html?src=rss

Share213Tweet133ShareShare27ShareSend

Related Posts

Remedy lays out its plan to fix FBC: Firebreak, which includes improved onboarding
Technologies

Remedy lays out its plan to fix FBC: Firebreak, which includes improved onboarding

July 18, 2025
0

Remedy has announced plans to fix FBC: Firebreak and restore the good will of consumers after a rough launch earlier this year. Many of the issues surrounding the launch were regarding the onboarding process, which the company acknowledges by saying that "many players come into the game and leave within...

Read moreDetails
What the hell is going on with Subnautica 2?

What the hell is going on with Subnautica 2?

July 18, 2025
Netflix is already using generative AI in its original shows

Netflix is already using generative AI in its original shows

July 18, 2025
Meta says it won’t sign the EU’s AI code of practice

Meta says it won’t sign the EU’s AI code of practice

July 18, 2025
Xi Jinping warns against China’s overinvestment in EVs and AI

Xi Jinping warns against China’s overinvestment in EVs and AI

July 18, 2025
Microsoft unceremoniously kills off the Xbox Movies & TV store

Microsoft unceremoniously kills off the Xbox Movies & TV store

July 18, 2025
Galaxy Watch 8: My first days with Samsung’s smartwatch have been promising

Galaxy Watch 8: My first days with Samsung’s smartwatch have been promising

July 18, 2025

Recent News

Remedy lays out its plan to fix FBC: Firebreak, which includes improved onboarding

Remedy lays out its plan to fix FBC: Firebreak, which includes improved onboarding

July 18, 2025

Tether’s CEO Says USDT Is Coming to America—And Circle’s CEO Isn’t Afraid

July 18, 2025
What the hell is going on with Subnautica 2?

What the hell is going on with Subnautica 2?

July 18, 2025
Netflix is already using generative AI in its original shows

Netflix is already using generative AI in its original shows

July 18, 2025

TOP News

  • Обменник криптовалют Dmoney.cc Выгодные обмены, которым можно доверять

    Обменник криптовалют Dmoney.cc Выгодные обмены, которым можно доверять

    536 shares
    Share 214 Tweet 134
  • Speedrunner reaches Breath of the Wild credit on Change 2, a console which is not even out but

    533 shares
    Share 213 Tweet 133
  • Meta plans stand-alone AI app

    563 shares
    Share 225 Tweet 141
  • Kia’s EV4, its first electrical sedan, will probably be out there within the US later this 12 months

    568 shares
    Share 227 Tweet 142
  • New Pokémon Legends: Z-A trailer reveals a completely large model of Lumiose Metropolis

    569 shares
    Share 228 Tweet 142
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on cryptoreportclub.com is those of writers quoted. It does not represent the opinions of cryptoreportclub.com on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
cryptoreportclub.com covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023-2025 Cryptoreportclub. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Crypto news
  • AI
  • Technologies

Disclaimer: Information found on cryptoreportclub.com is those of writers quoted. It does not represent the opinions of cryptoreportclub.com on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
cryptoreportclub.com covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023-2025 Cryptoreportclub. All Rights Reserved