The parent company of THQ Nordic, Embracer Group has announced that it has acquired the developers of popular franchise Borderlands, Gearbox Entertainment.
The two companies have recently announced that both have entered into an agreement where Embracer Group will acquire Gearbox Entertainment for up to $1.3 billion. The latter will now join the former as a wholly-owned subsidiary of the Sweden-based company.
Gearbox will gain access to capital, which will fuel their development and improvements to their powerful creative engine.
“Lars’s vision of Embracer as an allied partner group committed to fueling and accelerating the ambitions of a series of decentralized, successful entrepreneurial companies while magnifying the collective value and advantages of diversification across the entire group is the most brilliant strategy and design for short, medium, and long-term success in this industry that I have ever encountered in my 30 years in this industry,” said Randy Pitchford, founder of The Gearbox Entertainment Company. “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.”
“Gearbox is arguably one of the most creative and valuable independent developers in the world,” commented 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.”
Source: Official Website