Take-Two to acquire Gearbox from Embracer

Take-Two announced today that it will acquire Borderlands developer Gearbox. The publisher is paying $460 million for the acquisition. That is notably less than the approximately $1.3 billion that Embracer paid for Gearbox back in 2021 (although many strings were attached to that figure).

Embracer used to be on a gaming acquisition spending spree. Lately, it has instead been bleeding studios as a part of a wider reorganization effort. It sold Saber Interactive to Beacon Interactive for $274 million earlier this month, notably less than the up to $500 million initially reported.