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Take-Two Buys Gearbox, Company Behind The Borderlands Franchise, From Embracer For $460 Million
Take-Two Interactive has acquired Gearbox Entertainment, the company behind the Borderlands franchise, for $460 million from Embracer Group.
“With nearly 20 years of history working together, Gearbox has played an integral role in our success, given their unique ability to create interactive entertainment experiences that feature beloved characters, exciting new worlds, and humorous storytelling,” added David Ismailer, President of 2K. We set the bar for interactive entertainment and achieved remarkable results with groundbreaking, record-setting games when we worked together at arm’s length as partners. The purchase price assumes a debt-free, cash-free company with a normalized level of net working capital (excluding cash) at the time of the closing of the acquisition.
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