Take-Two Interactive Acquires Gearbox Entertainment from Embracer for $460 Million

Take-Two Interactive is set to acquire Gearbox, the developer behind the Borderlands series, from Embracer for $460 million. The deal, expected to be finalized in June, will see Gearbox operating under Take-Two's 2K label, with founder Randy Pitchford remaining as CEO. This acquisition includes ownership of titles such as Homeworld, Risk of Rain, Brothers in Arms, and Duke Nukem, as well as future Gearbox projects. The move is part of Embracer's restructuring program, while Take-Two sees it as an opportunity to strengthen its creative talent and expand its portfolio of intellectual property.