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Gearbox purchased



Illustration for the article titled Gearbox Has Been Bought

Picture: Gearbox

Gearbox Studios, game developers Borderlands and also publishers of things like the new The home world titles, have has been acquired by Embracer Group, the same Swedish company that owns THQ Nordic and Koch Media.

The acquisition makes Gearbox the company’s seventh video game inventory, along with other companies such as DECA and Saber Interactive.

The acquisition includes plans to expand the Gearbox business, add new studios and staff, “create new brands” and look for more properties (as The home world) buy.

Gearbox manager Randy Pitchford – who will continue as head of the company – issued a statement that opened with a mention of Embracer’s CEO Lars Wingefors, which reads:

Lars’ vision of Embracer as an allied partner group committed to stimulating and accelerating the ambitions of a series of decentralized, successful start-ups while enhancing the collective value and benefits of diversification throughout the group is the most brilliant strategy and design for short, medium, and long-term success in this industry that I have ever experienced in my 30 years in this industry. The feeling in Gearbox is that we are just getting started, and this transaction is not only a stimulant for the talent of our employee-owned company, but a driving force for the exciting future we have planned.

Gearbox is behind other hits like Brothers in Arms series and it is one Borderlands film that is currently being made, which no doubt contributed to Embracer’s interest. No word on whether sales were equally affected by Aliens: Colonial Marines and Duke Nukem Forever, though, or the fact that the gearbox is War born turn off for good this week.

The initial purchase price was $ 363 million, half in cash and half in Embracer shares, with an additional $ 1 billion to be paid ($ 360 million shares and the remainder in cash) if Gearbox is able to achieve “agreed financial and operational goals over the next six years”.


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