Take-Two Interactive Welcomes Gearbox Entertainment to its Family in a Landmark $460 Million Deal
In a significant move within the gaming industry, Take-Two Interactive has completed a monumental acquisition, purchasing Gearbox Entertainment for a striking sum of $460 million entirely through the issuance of new stock. This acquisition marks a pivotal moment, enriching Take-Two’s repertoire with the addition of Gearbox, the creative minds behind the critically acclaimed Borderlands series. Gearbox, previously under the wing of the Swedish gaming conglomerate Embracer since 2021 for $363 million, is now poised to thrive under the auspices of Take-Two’s 2K Games division.
Take-Two, the powerhouse behind the Grand Theft Auto series, has expressed enthusiasm over the acquisition, emphasizing its potential to bolster the company’s creative prowess and intellectual property catalog. The addition of the Borderlands series, a franchise known for its blend of engaging storytelling, vibrant aesthetics, and groundbreaking gameplay, stands as a testament to Take-Two’s commitment to enhancing its portfolio with high-caliber content.
“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,” stated Take-Two CEO and chair, Strauss Zelnick. He further highlighted the synergistic potential of this acquisition, envisioning it as a catalyst for bolstering the financial dynamics of Take-Two’s ongoing projects with Gearbox and unlocking avenues for sustained growth. The overarching goal is to fully leverage Take-Two’s resources across Gearbox’s expansive and innovative projects.
Randy Pitchford, the visionary leader at Gearbox, shared his optimism about the merger, portraying it as a monumental step for Gearbox’s evolution. Recollecting the past success from their collaborative efforts with Take-Two and 2K at arm’s length, Pitchford expressed excitement for the future, anticipating that the union would enable Gearbox to leverage Take-Two and 2K’s proven dedication to fostering creativity, joy, and profitability in the gaming sector. “Joining forces with Take-Two Interactive and 2K will help Gearbox ascend to our next level,” Pitchford remarked, with a forward-looking perspective on the promising horizons that lie ahead for Gearbox under the unified banner of Take-Two.
The gaming community buzzed with speculation about Gearbox’s future when news broke in September 2023 hinting at Embracer’s contemplations of selling Gearbox. This acquisition by Take-Two not only quells those rumors but sets a new course for Gearbox, promising the continuity and expansion of the beloved Borderlands series among other projects. Insiders and fans alike are eagerly awaiting more news, particularly regarding the hinted-at new entry in the Borderlands series, with high hopes for what this partnership will bring to the table in terms of innovation and entertainment value.
As always, the gaming industry continues to evolve, with mergers and acquisitions such as this playing a pivotal role in shaping the future landscape. Take-Two’s acquisition of Gearbox symbolizes more than a mere transaction; it epitomizes a strategic alignment of vision, resources, and creativity aimed at pushing the boundaries of interactive entertainment to new heights.
