Borderlands and Brothers in arms The developer Gearbox Entertainment was acquired by Embracer Group in a deal of up to $ 1.38 billion.
The deal will see Gearbox become a wholly owned subsidiary of Embracer, which also owns THQ Nordic, Deep Silver, Saber Interactive and more.
The Swedish holding company will deliver an initial $ 363 million in cash and newly issued shares, before paying an additional consideration of up to $ 1.02 billion over the next six years, when certain financial and operating goals are achieved.
Randy Pitchford, founder and CEO of Gearbox, will continue to lead the United States company after the purchase, and will also become a “significant shareholder” in Embracer.
Pitchford explained that the deal could serve as a “driver” for Gearbox, while Embracer Chief Executive Lars Wingefors said he plans to position the studio for “continued significant growth in the years to come”.
As part of this growth plan, Embracer intends to collaborate with Gearbox on all fronts to assist in the development, publication and management of important franchises, and noted that the business could also pave the way for future mergers and acquisitions in North America.
“Through the merger, Embracer embarked on one of the leading independent companies in the gaming industry, with proven experience in creating long-lasting franchises and providing strong original content,” said the company. “Gearbox will become the seventh operating group and will continue to operate as an independent studio with a focus on premium interactive gaming experiences.”
Borderlands publisher 2K also commented on the news, explaining that the change will not affect his relationship with Gearbox or his role as publisher on Borderlands franchise and other projects.
“We look forward to continuing our long-term partnership with this incredibly talented team and offering many more exciting entertainment experiences to game fans around the world,” said a company spokesman.