Take-Two Interactive Software (TTWO) to acquire Gearbox Entertainment Company in $460 million deal

The parent company of the Grand Theft Auto series developer is set to acquire the developer of the Borderlands franchise.

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Take-Two Interactive (TTWO) has announced that it will acquire Gearbox Entertainment Company for $460 million with the deal expected to close in the first quarter of Take-Two’s fiscal year 2025.

The acquisition was announced vid a Take-Two Interactive press statement on March 27, 2024. Take-Two Interactive has entered into a “definitive agreement” with Embracer Group for the purchase of Gearbox. Back in 2021, Embracer Group and Gearbox Entertainment merged which saw the Sweden-based company spending $1.3 billion USD on the acquisition. Now, a little over three years later, Embracer is selling the asset for a fraction of the cost.

The cover art for Borderlands 3

Source: Gearbox Entertainment

The announcement also makes note of exactly what Take-Two is acquiring with the purchase of Gearbox:

Take-Two will acquire Gearbox’s extensive portfolio of intellectual property, including full ownership of the critically and commercially acclaimed Borderlands and Tiny Tina’s Wonderlands franchises1, as well as Homeworld, Risk of Rain, Brothers in Arms, Duke Nukem, and Gearbox’s future pipeline. Gearbox currently has six key interactive entertainment projects in various stages of development, including five sequels, two of which are from the Borderlands and Homeworld franchises, and at least one exciting new intellectual property.

It appears as though Gearbox has five sequels in development, with a couple of those stemming from the Borderlands and Homeworld franchises. Whether this is Borderlands 4, a spin-off like Borderlands: The Pre-Sequel or Tiny Tina’s Wonderlands remains to be seen. However, we at least now know for certain that Gearbox is preparing a new IP.

The acquisition of Gearbox is quite the get for Take-Two Interactive, which already owns one of the biggest gaming franchises in the world, Grant Theft Auto. With Grand Theft Auto 6 scheduled to release in 2025 and the closing of this deal expected within Take-Two’s 2025 fiscal year, it will be interesting to see how this is reflected in the company’s earnings reports. Stay tuned to our Take-Two page for more information.

Guides Editor

Hailing from the land down under, Sam Chandler brings a bit of the southern hemisphere flair to his work. After bouncing round a few universities, securing a bachelor degree, and entering the video game industry, he's found his new family here at Shacknews as a Guides Editor. There's nothing he loves more than crafting a guide that will help someone. If you need help with a guide, or notice something not quite right, you can message him on X: @SamuelChandler 

From The Chatty
    • ? reply
      March 28, 2024 6:16 AM

      Yay or Boo, depending on how more informed people react.

    • ? reply
      March 28, 2024 6:47 AM

      Steve getting paid.

    • ? reply
      March 28, 2024 6:49 AM

      Confirms Borderlands 4 is in development at least.

    • ? reply
      March 28, 2024 6:55 AM

      Shout out to Gearbox for surviving Embracer Group ownership. God damn. Good to have some good news every now and then.

      • ? reply
        March 28, 2024 7:04 AM

        Only lost about 2/3rds their value.

        • ? reply
          March 28, 2024 7:06 AM

          No, Embracer bought Gearbox for around 370m but claimed they were worth 1.3 billion by offering incentives for gearbox to be paid out if milestones were reached. They sold Gearbox to Take two for nearly 100m profit. -- Doh my Google fu was wrong.

          • ? reply
            March 28, 2024 7:18 AM

            Embracer is poison and I hope more studios are able to get out from underneath them before its too late :(

    • ? reply
      March 28, 2024 7:14 AM

      BRING BACK BATTLEBORN

      • ? reply
        March 28, 2024 7:39 AM

        I'm amazed they supported it as long as they did with what its population count was. Would be nice to see it succeed in the wake of Overwatch 2 fumbling the ball so hard.

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