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Take-Two has confirmed this morning that it’s shopping for Gearbox Leisure from Embracer Group for $460 million. The acquisition will embrace most of Gearbox’s IP together with the extremely in style and globally acknowledged Borderlands franchise.
It received’t embrace every part tied to the Gearbox identify although. “The acquisition is anticipated to be accomplished through the first quarter of Take-Two’s Fiscal 12 months 2025 (ended June 30, 2024), and is topic to the satisfaction of customary closing situations, together with relevant regulatory approvals. The transaction excludes sure third-party publishing and different property that Take-Two deemed non-core to its enterprise,” Take-Two says in an official press launch.
The third-party publishing property which are deemed “non-core” to the enterprise discuss with Gearbox Publishing San Francisco, which Embracer Group will likely be maintaining. This implies Embracer will nonetheless personal the rights to franchises like Remnant, in addition to the publishing rights to Hyperlight Breaker. Emracer can be maintaining Cryptic Studios, Misplaced Boys Interactive, and Captured Dimensions. All informed, Take-Two is hanging onto what Gearbox is most well-known for. Which is Borderlands, Tiny Tina’s Wonderlands, Homeworld, and Duke Nukem amongst different franchises.
Take-Two shopping for Gearbox results in layoffs the identical day
Take-Two shopping for Gearbox from Embracer Group is little doubt a very good factor for the way forward for Gearbox as an entire. Nevertheless it’s not a very good factor for everybody concerned. Take-Two says that Gearbox will function inside 2K and that Gearbox founder and CEO Randy Pitchford will proceed as the top of the corporate. A couple of hours after the acquisition settlement was introduced, a number of individuals from Gearbox Publishing workers have been knowledgeable they have been being let go.
Gearbox Publishing’s former PR Supervisor Jennifer Locke posted on X that she was let go “together with numerous others.” Former CRM Supervisor for Gearbox Publishing Mallie Rust additionally took to X to share the information. Stating that the bulk of their groups have been laid off as a part of this shift. It’s the identical story that’s been the case inside the sport business for the previous yr. Sony laid off about 900 staff from throughout its PlayStation arm again on February 27. EA laid off about 650 staff across the similar time.
That is additionally after scores of layoffs from different studios. Together with Ubisoft, Bungie, and plenty of others. It’s been a disheartening pattern that has persevered for nicely over 12 months. Preceded by studios hiring a whole lot of staff after which deciding one of the best ways to chop prices was to fireplace all their new expertise.
Borderlands 4 confirmed to be in growth
Take-Two doesn’t give many particulars. Nevertheless, through the acquisition announcement, it does state that Gearbox has a number of tasks going. This features a new Borderlands sequel, which could be very probably Borderlands 4 seeing as Borderlands 3 was the final main sport within the franchise. Tiny Tina’s Wonderlands is technically a part of that universe. Nevertheless it’s its personal franchise and never tied to the mainline Borderlands story.
Along with a brand new Borderlands sequel, Gearbox can be engaged on a brand new Homeworld sequel. In addition to “one thrilling new IP,” Take-Two says. In whole, Gearbox has six key tasks which are in varied levels of growth.