Last Updated on September 11, 2023 10:47 AM by Anayatullah
According to a report by Reuters, the Swedish video game conglomerate Embracer Group is exploring the possibility of selling its American subsidiary Gearbox Entertainment. Gearbox is known for creating the popular Borderlands series, with over 70 million copies sold worldwide. Embracer has brought in Goldman Sachs and Aream & Co to find potential buyers because other gaming companies have shown interest.
Embracer bought Gearbox in February 2021 for a massive $1.4 billion, making it one of the biggest gaming industry deals that year. Besides Borderlands, Gearbox also owns games like Brothers in Arms, Duke Nukem, and Homeworld. They also have a publishing division responsible for games like Hello Neighbor, We Happy Few, Risk of Rain 2, and Godfall.
Reports suggest that Embracer is considering selling Gearbox to reduce its debt, which was around $903 million at the end of June. Embracer has been going through changes, including closing studios, canceling projects, and cutting staff, all part of a restructuring plan announced in June.
Gearbox has already prepared materials to attract potential buyers, mostly from international gaming groups. But it’s important to note that a deal might not happen, and Embracer could decide to keep Gearbox or make it a separate company.
The rumors you might like to read about Upcoming Games about Borderlands.
Randy Pitchford, the founder and CEO of Gearbox, mentioned that the deal with Embracer was a boost for their employee-owned company and their exciting future plans. He also assured fans that this wouldn’t affect the development of upcoming Borderlands games, which are published by 2K Games.
Embracer Group, Goldman Sachs, and Aream & Co have not provided comments on these reports as of now. Stay tuned for updates on this developing story in the gaming world.
Anayatullah is a gaming writer and enthusiast with 20 years of experience. He brings personal insights to his writing, making him a valuable resource for fellow gamers. His articles aim to provide entertaining and informative details about the games we all love.
He has a keen eye for gaming news and upcoming games. Be sure to follow him on Twitter.
