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Gearbox Has Been Bought

Gearbox Studios, developers of games like Borderlands and also publishers of stuff like the new Homeworld titles, have been bought by Embracer Group, the same Swedish company that owns THQ Nordic and Koch Media.

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The acquisition makes Gearbox the company’s seventh video game holding, alongside other companies like DECA and Saber Interactive.

The purchase includes plans to expand Gearbox’s operations, adding new studios and staff, to “create new brands”, and go looking for more properties (like Homeworld) to buy.

Gearbox boss Randy Pitchford—who will stay on as boss of the company—issued a statement, opening with mention of Embracer’s CEO Lars Wingefors, which reads:

Gearbox is responsible for other hits like the Brothers in Arms series, and there’s a Borderlands movie currently being made, which no doubt contributed to Embracer’s interest. No word on whether the sale was equally influenced by Aliens: Colonial Marines and Duke Nukem Forever, though, or the fact that Gearbox’s Battleborn shut down for good this week.

The initial purchase price was $363 million, half in cash and half in Embracer shares, with a further $1 billion to be paid ($360 million shares and the rest in cash) if Gearbox are able to hit, “agreed financial and operational targets in the next six years.”

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