Gearbox was purchased



[ad_1]

Illustration from item titled Gearbox Has Been Purchased

Picture: Gearbox

Gearbox Studios, game developers like Borderlands and also editors of stuff like the new Home world titles have was acquired by Embracer Group, the same Swedish company that owns THQ Nordic and Koch Media.

Acquisition makes Gearbox the company’s seventh video game holding company, alongside other companies like DECA and Saber Interactive.

The purchase plans to expand Gearbox’s business, add new studios and employees, “build new brands” and research more properties (as Home world) buy.

Gearbox boss Randy Pitchford, who will remain at the helm of the company, released a statement, beginning with a mention of Embracer CEO Lars Wingefors, which reads:

Lars’ vision of Embracer as an allied partner group committed to fueling and accelerating the ambitions of a series of decentralized and successful entrepreneurial companies while amplifying the collective value and benefits of diversification across the group. is the brightest 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. The feeling at Gearbox is that we are just getting started and this transaction is not only a talent booster for our employee-owned company, but a propellant for the exciting future we have foreseen.

Gearbox is behind other successes like the Brothers in arms series, and there is a Borderlands film in progress, which has undoubtedly contributed to Embracer’s interest. It is not known if the sale was also influenced by Aliens: Colonial Marines and Duke Nukem Forever, however, or the fact that Gearbox Warrior-born stop for good this week.

The original purchase price was $ 363 million, half in cash and the other half in Embracer stock, with an additional $ 1 billion payable ($ 360 million in stock and the remainder in cash) if Gearbox is able to meet “the agreed financial and operational goals over the next six years.”

[ad_2]
Source link