The giant, also owner of THQ Nordic and Koch Media, has closed an agreement with The Gearbox Entertainment Company.
It’s only been a few days since the Battleborn servers closed never to reopen, but Gearbox is also the studio responsible for one of the most important 2K Games sagas, Borderlands. The news is that Embracer Group, the owner colossus of THQ Nordic, has announced a merger agreement with The Gearbox Entertainment Company. This operation will not change the leadership of the company, as the always controversial Randy Pitchford will continue as CEO. Additionally, the employees will become shareholders of the Embracer Group.
This merger will open the doors to close collaboration within the group in terms of development and publishing, but also technology and intellectual properties. They also report the creation of a platform designed for upcoming mergers and acquisitions in the United States.
In connection with our news this morning, we invite you to join our live webcast presentations today. We are proud to welcome; first out, @easybrainteam at 09 CET, followed by @aspyrmedia at 12 CET and rounding up with the team at @GearboxOfficial 13.30: https://t.co/yw8cphNJTS pic.twitter.com/Z10b78H6Ar
– Embracer Group (@embracergroup) February 3, 2021
They seek to prop up the growth of Gearbox
“Gearbox is one of the most creative and valuable independent studios in the world,” Lars Wingefors, CEO of Embracer Group, said in a press release. “We believe that the resources offered by the Embracer Group will position Gearbox to continue to grow significantly in the years to come.”
Randy Pitchford, for his part, highlighted Wingefors’ vision, which is based on a commitment to foster and accelerate “the ambitions of a number of decentralized companies” that “magnify collective value.” In his words, diversification is the strategy they will use to achieve their “short, medium and long term” objectives.
The transaction will close with an initial disbursement of $ 360 million in cash and no debt, of which $ 175 million will be acquired in newly issued shares of Embracer B.
Gearbox continues to work on post-launch content for Borderlands 3, the latest installment in the series. The company has launched a third season pass, which will receive new expansion content throughout the year 2021.
