Gearbox Entertainment has revealed that it is being acquired by Swedish video game holding giant Embracer Group in a deal worth up to 1.3 billion. The Dallas-based company will join Embracer as its seventh operating group and utilize its newfound capital to expand its publishing and developmental efforts, the latter of which have already resulted in critically acclaimed franchises such as Borderlands and Brothers in Arms.
“Lars’s vision of Embracer as an allied partner group committed to fueling and accelerating the ambitions of a series of decentralized, successful entrepreneurial companies while magnifying the collective value and advantages of diversification across the entire group is the most brilliant strategy and design for short, medium, and long-term success in this industry that I have ever encountered in my 30 years in this industry,” said Gearbox Entertainment founder Randy Pitchford.
“The feeling at Gearbox is that we are just getting started and this transaction is not merely a stimulant for the talent of our employee-owned company, but a propellent for the exciting future we have planned.”
“Gearbox is arguably one of the most creative and valuable independent developers in the world,” added Embracer Group founder and CEO Lars Wingefors. “We believe that the resources offered by Embracer will position Gearbox for significant growth in the years to come.”
The acquisition of Gearbox Entertainment boosts Embracer Group’s already extensive lineup of development studios to an even more impressive total of 58. Some of the studios under Embracer’s wing include 4A Games (Metro), Aspyr Media (Star Wars: Knights of the Old Republic), Volition (Saints Row), and Flying Wild Hog (Shadow Warrior).