The merger does not change 2K’s relationship with Gearbox nor our role as the publisher for the Borderlands IP or any other projects we are currently working on with the studio. In a statement, a spokesperson for Borderlands publisher 2K said, “As the proud publisher of the Borderlands franchise, we are happy for our partners at Gearbox and this exciting new chapter for their organization. Gearbox Publishing, the publishing unit, has published indie titles such as Hello Neighbor (2017), We Happy Few (2018), Risk of Rain 2 (2019) and Godfall (2020). Gearbox Software, the game development unit, has developed more than 20 game titles over almost two decades with hundreds of millions units sold combined. The Brother in Arms series has sold more than 10 million copies to date. The Borderlands franchise currently has three blockbuster installments, and the franchise has sold more than 60 million copies to date. Gearbox’s portfolio includes Borderlands, Brothers in Arms, Homeworld, and Duke Nukem. Of that amount, $360 million will be issued in Embracer B shares and the remaining $655 million will be in cash. If Gearbox hits targets for operations in the next six years, it will also get a maximum of $1.01 billion. Under the deal, Embracer will pay $188 million in cash and $175 million in newly issued Embracer B shares. For the full calendar year of 2019, Gearbox generated sales of $125.2 million and operational earnings before interest and taxes of $37.7 million. Embracer Group has 57 internal game development studios in 40 countries.Įmbracer said that Gearbox generated $123 million in sales for the nine months ended September 30. Juno Capital Partners and Union Square Advisors acted as M&A and financial advisers to Gearbox on this transaction, and Fenwick & West acted as legal counsel.Įmbracer Group is the parent company of game businesses with a catalog of over 200 owned franchises, such as Saints Row, Goat Simulator, Dead Island, Darksiders, Metro, MX vs ATV, Kingdoms of Amalur, TimeSplitters, Satisfactory, Wreckfest, Insurgency, and World War Z.Įmbracer Group’s other groups include THQ Nordic GmbH, Koch Media GmbH/Deep Silver, Coffee Stain AB, Amplifier Game Invest, Saber Interactive, and Deca Games. Gearbox confirmed that Pitchford will continue in his current role as head of the studio he started in 1999.

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