Take-Two acquires The Gearbox for $460 million; It is expected to close in the first quarter of fiscal 2025.
Take two one of the world’s largest interactive entertainment companies, announced that it has entered into an agreement with Embracer Group to acquire Entertainment company Gearbox.
Remember that Embracer Group bought Gearbox last year 2021 for an amount of $363 million (half in cash and half in stock) and $1,015 million in variables, which was to be realized over six years.
The acquisition is expected to be completed in the first quarter of fiscal 2025. Take two (completed on June 30, 2024), and is subject to compliance with customary closing conditions, including regulatory approvals of which we are already “experts” following the Activision and Microsoft series.
The study Gearbox is the creator of unique experiences like Borderlands Yes Little Tina’s Wonderland, as well as Homeworld, Risk of Rain, Brothers in Arms, Duke Nukem, etc. Sagas that are undoubtedly a reference in the world of video games.
Gearbox will work as a study within 2K and will be led by its founder and CEO, Randy Pitchford, and his management team. This acquisition is undoubtedly a quality addition to the development team of Take two. This includes staff at Gearbox’s various headquarters in Texas, Montreal and Quebec.
“Our acquisition of Gearbox is an exciting time for Take-Two and will strengthen our industry-leading creative talent and portfolio of exclusive intellectual property, including the iconic Borderlands franchise. »
“This combination improves the financial profile of our current projects with Gearbox and opens up the opportunity to drive additional long-term growth by leveraging all of Take-Two’s resources across all of Gearbox’s exciting initiatives.” »
Strauss Zelnick, Chairman and CEO of Take-Two
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