Border lands i Comrades-in-arms Developer Gearbox Entertainment has been acquired by Embracer Group in a deal worth up to $ 1.38 billion.
The deal will make Gearbox a wholly owned subsidiary of Embracer, which also owns THQ Nordic, Deep Silver, Saber Interactive and more.
The Swedish holding company will deliver an initial $ 363 million, including cash and newly issued shares, before paying an additional consideration of up to $ 1.02 billion over the next six years, when certain financial and operational targets are met.
Gearbox founder and CEO Randy Pitchford, who has a long track record, will continue to lead the American company after the purchase and will also become a “significant shareholder” of Embracer.
Pitchford explained that the deal could serve as a “propellant” for Gearbox, while Embracer chief executive Lars Wingefors said he intends to position the studio for “continued significant growth in the coming years”.
As part of this growth plan, Embracer intends to collaborate with Gearbox on all fronts helping with the development, publishing and management of key franchises, and noted that the agreement could also pave the way. to future mergers and acquisitions in North America.
“Through the merger, Embracer joins one of the leading independent companies in the gaming industry, with proven experience in creating long-lasting franchises and delivering strong original content,” the company said. “Gearbox will become the seventh operating group and will continue to operate as an independent studio focused on first-class interactive gaming experiences.”
Border lands the 2K editor has also influenced the news, explaining that the measure will not affect his relationship with Gearbox or his role as editor at the Border lands franchises and other projects.
“We look forward to continuing our long-term partnership with this incredibly talented team and offering many more exciting entertainment experiences to gaming fans around the world,” a company spokesman said.