Take-Two Interactive Software has announced that it will be acquiring The Gearbox Entertainment Company—the developer behind the Borderlands franchise—for $460 million from the Embracer Group, and with it comes the news that Gearbox and 2K are currently in active development on the next installment in the Borderlands series. Borderlands 3, the last mainline installment of the franchise, was released in September 2019, while Eli Roth’s live-action film is set to be released in the U.S. and Canada on August 9, 2024.
Take-Two on what Gearbox is up to and what it’s getting:
Take-Two expects the transaction to deepen its successful relationship with Gearbox Entertainment and to provide increased financial benefits through a fully-integrated operational structure. Take-Two will acquire Gearbox’s extensive portfolio of intellectual property, including full ownership of the critically and commercially acclaimed Borderlands and Tiny Tina’s Wonderlands franchises, as well as Homeworld, Risk of Rain, Brothers in Arms, Duke Nukem, and Gearbox’s future pipeline. Gearbox currently has six key interactive entertainment projects in various stages of development, including five sequels, two of which are from the Borderlands and Homeworld franchises, and at least one exciting new intellectual property. Beyond these plans, Take-Two believes that there are incremental opportunities to invest in new projects and to expand Gearbox’s proven franchises.
Quotes:
- Strauss Zelnick, Chairman and CEO of Take-Two
- “Our acquisition of Gearbox is an exciting moment for Take-Two and will strengthen our industry-leading creative talent and portfolio of owned intellectual property, including the iconic Borderlands franchise.”
- “This combination enhances the financial profile of our existing projects with Gearbox and unlocks the opportunity for us to drive increased long-term growth by leveraging the full resources of Take-Two across all of Gearbox’s exciting initiatives.”
- David Ismailer, President of 2K
- “With nearly 20 years of history working together, Gearbox has played an integral role in our success, given their unique ability to create interactive entertainment experiences that feature beloved characters, exciting new worlds, and humorous storytelling.”
- “We are thrilled to welcome Randy Pitchford and his team of passionate, talented developers to 2K and we look forward to releasing numerous projects in the future as colleagues. We have loved partnering with Gearbox on every iteration of the Borderlands franchise and are excited to be in active development on the next installment in the series.”
- Randy Pitchford, Founder and CEO of Gearbox Entertainment
- “Joining forces with Take-Two Interactive and 2K will help Gearbox ascend to our next level.”
- “Take-Two and 2K have demonstrated repeatedly their commitment to our engine of generating creativity, happiness, and profit. We set the bar for interactive entertainment and achieved remarkable results with groundbreaking, record-setting games when we worked together at arm’s length as partners. I’m incredibly excited about what we can accomplish now that we’re fully aligned as one.”