Published , by Sam Chandler
Published , by Sam Chandler
Take-Two Interactive (TTWO) has announced that it will acquire Gearbox Entertainment Company for $460 million with the deal expected to close in the first quarter of Take-Two’s fiscal year 2025.
The acquisition was announced vid a Take-Two Interactive press statement on March 27, 2024. Take-Two Interactive has entered into a “definitive agreement” with Embracer Group for the purchase of Gearbox. Back in 2021, Embracer Group and Gearbox Entertainment merged which saw the Sweden-based company spending $1.3 billion USD on the acquisition. Now, a little over three years later, Embracer is selling the asset for a fraction of the cost.
The announcement also makes note of exactly what Take-Two is acquiring with the purchase of Gearbox:
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 franchises1, 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.
It appears as though Gearbox has five sequels in development, with a couple of those stemming from the Borderlands and Homeworld franchises. Whether this is Borderlands 4, a spin-off like Borderlands: The Pre-Sequel or Tiny Tina’s Wonderlands remains to be seen. However, we at least now know for certain that Gearbox is preparing a new IP.
The acquisition of Gearbox is quite the get for Take-Two Interactive, which already owns one of the biggest gaming franchises in the world, Grant Theft Auto. With Grand Theft Auto 6 scheduled to release in 2025 and the closing of this deal expected within Take-Two’s 2025 fiscal year, it will be interesting to see how this is reflected in the company’s earnings reports. Stay tuned to our Take-Two page for more information.