We might be venturing back to the Borderlands (Picture: Gearbox)

Take-Two Interactive is set to buy developer Gearbox from Embracer, as the studio acknowledges the existence of another Borderlands game.

After being acquired by Embracer Group in 2021, Borderlands creator Gearbox are set to officially part ways with the media company.

Embracer, who recently sold Saber Interactive to reduce the company’s debt following a string of acquisitions, has now announced it has sold Gearbox to Take-Two Interactive for $460million (£365million). The deal is set to be finalised in the first quarter of Take-Two’s 2025 fiscal year, which ends on June 30, 2024.

The deal means Take-Two now owns Gearbox’s IP, including Borderlands, Tiny Tina’s Wonderlands , Homeworld, Risk Of Rain, Brothers In Arms, Duke Nukem, and all future projects from the studio. Gearbox is based across three offices in the US and Canada .

Gearbox already has a long-standing relationship with Take-Two, as the company’s subsidiary 2K is the publisher for Borderlands.

‘Joining forces with Take-Two Interactive and 2K will help Gearbox ascend to our next level,’ said Gearbox CEO Randy Pitchford. ‘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 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.’




We’re incredibly proud to announce we’re joining the Take-Two Interactive/ @2K family. pic.twitter.com/ot1gJK4TUp — GearboxOfficial (@GearboxOfficial) March 28, 2024




According to Take-Two, Gearbox is working on six projects which are at various stages of development. These include five sequels, including new instalments in the Borderlands and Homeworld franchises, and ‘at least’ one new IP.

In the same press release , it’s noted that Gearbox is in ‘active development’ on the next Borderlands game. While this won’t be at all surprising for anyone who has kept up with the various leaks , it’s the first time the studio has officially acknowledged the existence of another entry.

Pitchford previously teased what’s widely assumed to be Borderlands 4 , describing it as ‘the greatest thing we’ve ever done’. It’s unclear when the sequel will be released but, with the Borderlands movie out in August , it’s expected some sort of announcement could happen soon.

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Embracer’s decision to sell Gearbox is part of the company’s ‘restructuring programme’, which involved laying off 8% of its total workforce . The company’s cutbacks has led to the closure of various studios, including Saints Row developer Volition and Free Radical Design .

‘Today’s announcement marks the result of the final structured divestment process and is an important step in transforming Embracer into the future with notably lower net debt and improved free cash flow,’ said Embracer CEO Lars Wingefors. ‘Through the transaction, we lower business risk and improve profitability as we transition to becoming a leaner and more focused company.

‘After evaluating several options for Gearbox, I am happy that we have reached a solution that is in the best interest of all stakeholders.’





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