After the deal with Saber, now we are hearing about a new deal between Take-Two and Gearbox. We know that things aren’t going great with Embracer and previously, it sold Saber just a few weeks ago.
And now we know about the new deal between Take-Two and Gearbox. Of course, it has made the future of upcoming projects like Borderlands uncertain. And we don’t know if these projects will be delayed or even get cancelled.
If you are curious to know more about the new deal between Take-Two and Gearbox, then you are at the right place. If you want to know about this deal and what’s going to happen to the projects, then please continue reading this article.
New Deal Between Take-Two And Gearbox
Recently, we have heard about a new deal between Take-Two and Gearbox, which took place weeks after Saber was sold by Embracer. Just a few days ago, Take-Two announced this new deal between Take-Two and Gearbox.
According to the announcement, the new deal between Take-Two and Gearbox reached an agreement to buy the two-and-a-half-decade-old Texan game developer team for $460 million. Well, we can say that’s a far cry from the amount of $1.3 billion spent by Embraer almost 3 years ago.
However, there are still many caveats, like the fact that the transaction is said to not include “certain third-party publishing and other assets that the buyer considered superfluous to its business”. Now, we have to see what’s going to happen to the games that Gearbox started publishing.
Some of these third-party games include Remnant II, Tribes of Midgard, and the upcoming Hyper Light Breaker. Also, as the new deal between Take-Two and Gearbox says, the amount of the deal will be paid in its entirety in freshly issued common stock Take-Two shares.
chairman and CEO of Take-Two stated during the new deal between Take-Two and Gearbox,
“Our acquisition of Gearbox is an exciting moment for Take-Two and will strengthen our industry-leading creative talent and portfolio of owned intellectual property, including the iconic Borderlands franchise. This combination enhances the financial profile of our existing projects with Gearbox and unlocks the opportunity for us to drive increased long-term growth by leveraging the full resources of Take Two across all of Gearbox’s exciting initiatives.”
In addition, Founder and CEO of Gearbox Entertainment stated,
“Joining forces with Take: Two Interactive and 2K will help Gearbox ascend to our next level. Take Two and 2K have demonstrated repeatedly their commitment to our engine of generating creativity, happiness, and profit. 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. I’m incredibly excited about what we can accomplish now that we’re fully aligned as one.”
