games industry

Embracer Group merges with Gearbox Entertainment

The Embracer Group has announced today that they have entered into a merger with Gearbox. This large deal is worth a hefty $1.3 billion and is set to close within three months. Gearbox is best known for the popular loot shooter Borderlands series which has shifted far past 45 million copies in total. Borderlands Legacy Collection is available on the Switch and includes Borderlands: Game of the Year Edition, Borderlands 2, and Borderlands: The Pre-Sequel.

“Gearbox is arguably one of the most creative and valuable independent developers in the world. We believe that the resources offered by Embracer will position Gearbox for continued significant growth in the years to come.”

Lars Wingefors, Founder and Group CEO of Embracer Group

“Lars’s vision of Embracer as an allied partner group committed to fueling and accelerating the ambitions of a series of decentralized, successful entrepreneurial member 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 worked in during 30 years. 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.”

Randy Pitchford, founder of The Gearbox Entertainment Company.

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