Gearbox Software, the studio best known for the development of the Borderlands franchise as well as other series like the Brothers in Arms games, has been acquired by Embracer Group. The Sweden-based company announced its acquisition of Gearbox this week and valued the transaction overall at $1.3 billion with some money going straight into Gearbox to serve as "rocket fuel" for the developer's "robust IP catalogue."
With the acquisition now announced, Gearbox said it has plans for "immediate and long-term growth" that'll expand the available talent within its studios based in Frisco, Texas, and Quebec City. Those plans include new partnerships as well as more Gearbox studios to be formed.
Randy Pitchford, the founder of Gearbox, will stay on in his position as the head of the company. Pitchford spoke positively of the acquisition in a press release regarding the news and said the merger would help propel Gearbox forward into the future.
"The feeling at Gearbox is that we are just getting started and this transaction is not merely a stimulant for the talent of our employee-owned company, but a propellent for the exciting future we have planned," Pitchford said."
Embracer Group itself is no stranger to working with big gaming companies like Gearbox and had several operative groups under its umbrella already. Those companies include ones such as THQ Nordic GmbH, Koch Media GmbH/Deep Silver, and Saber Interactive which themselves are known for games and franchises like Dead Island, Saints Row, Darksiders, and World War Z. With these and others included, Embracer Group has over 200 franchises under its name with 57 different development studios prior to the latest acquisition. Gearbox will be the seventh company now housed within Embracer Group.
"Gearbox is arguably one of the most creative and valuable independent developers in the world," said Lars Wingefors, founder and CEO of Embracer Group. "We believe that the resources offered by Embracer will position Gearbox for significant growth in the years to come."
As for the future of the Borderlands series as well as the company's other big franchises, immediate plans for those properties were not shared within the announcement. It was confirmed to GamesIndustry.biz, however, that 2K will stay on as the publisher for the Borderlands games.