Gearbox Entertainment Company and Embracer Group successfully closed the merger agreement announced in February for up to $ 1.3 billion, the companies announced.
The merger makes The Gearbox Entertainment Company the seventh operating group of the Swedish-based Embracer Group, which has more than 240 franchises and 7,000 employees worldwide, as well as positions The Gearbox Entertainment Company for “rapid growth” with its “robust IP catalog, AAA development studios and publishing resources in North America.” Gearbox Entertainment Company currently employs 550 employees at its studios in Frisco, Texas and Quebec City.
“Our team is incredibly excited about the opportunity we have now,” said The Gearbox Entertainment Company founder Randy Pitchford in a press release. “Far from entering the sunset, we are now positioned to launch a new IP, do more with our existing brands, increase our base of incredibly talented team members and capitalize on new opportunities in our mission to entertain the world. This is just the beginning. “
Embracer Group founder and CEO, Lars Wingefors, added: “This was the biggest merger by Embracer. I am grateful to Randy and his entire team for their enthusiasm, creativity and vision. We are confident in Gearbox’s long-term future within the Embracer Group. “
In addition to The Gearbox Entertainment Company, the acquisition of Aspyr and the merger with Easybrain have also been completed.