Take-Two buys Gearbox from Embracer Group for $460 million

What just happened? Take-Two Interactive has agreed to purchase Gearbox Entertainment from the Embracer Group for $460 million. The deal includes the full rights to several Gearbox franchises including Borderlands, Tiny Tina's Wonderlands, Risk of Rain, Homeworld, Duke Nukem, and Brothers in Arms.

Take-Two said Gearbox currently has half a dozen projects in various stages of development including five sequels (two of which are from Borderlands and Homeworld) and one title based on entirely new IP.

Per the agreement, Embracer Group will retain Gearbox Publishing (which will be renamed) and the publishing rights to the Remnant franchise, Hyper Light Breaker, and others, as well as Lost Boys Interactive, Captured Dimensions, and Cryptic Studios (including Neverwinter Online and Star Trek Online).

Gearbox will slot into Take-Two's 2K division, and be led by Gearbox co-founder Randy Pitchford and his team. Pitchford said he is excited about what the two can ...