Take-Two Acquires Gearbox Software for $460 Million

Take-Two Interactive has announced its acquisition of Gearbox Software, the developer behind the Borderlands series, for $460 million. This amount is considerably less than the $1.3 billion paid by Embracer Group three years prior, suggesting urgency in the sale.

The transaction, to be paid in Take-Two stock, is expected to close by the end of June, with Gearbox operating under the 2K label. Excluded from the deal are certain assets related to third-party game publishing, including titles like Tribes of Midgard and Remnant II.

Gearbox currently has six projects underway, including five sequels and at least one new IP, notably the next Borderlands game and Homeworld 3, set for a May release.

Take-Two’s leadership expressed commitment to investing in Gearbox's new and existing projects, aiming to strengthen Take-Two’s market position and expand its portfolio of gaming franchises.