Take-Two Interactive Acquires Gearbox for $460 Million
Take-Two Interactive’s acquisition of Gearbox from Embracer for $460 million will see them taking ownership of popular game titles such as Borderlands, Homeworld, and Duke Nukem. Gearbox will continue to operate under Take-Two’s 2K label, led by founder Randy Pitchford. The move comes as part of Embracer’s restructuring program, and is expected to enhance Take-Two’s financial profile and drive increased long-term growth.
Embracer Group to Sell Saber Interactive for $500 Million in Cost-Cutting Move
Swedish gaming company Embracer Group AB is set to sell its subsidiary Saber Interactive to private investors in a deal valued at up to $500 million. This comes as part of Embracer’s cost-cutting initiative, which has seen the company lay off employees and close studios worldwide. Saber Interactive, known for games such as Snowrunner and World War Z, will become a privately owned company and continue the development of a highly anticipated remake of Star Wars: The Knights of the Old Republic. Embracer had acquired Saber for $525 million in 2020 as part of its aggressive acquisition strategy, but has been facing financial challenges and is actively reducing its costs by shutting down subsidiaries and seeking to sell off more divisions.