Take-Two Interactive has announced its acquisition of game developer Gearbox from Embracer for a whopping $460 million. The deal, expected to be finalized in June, will see Take-Two taking ownership of popular game titles such as Borderlands, Homeworld, Risk of Rain, Brothers in Arms, and Duke Nukem, as well as future projects from Gearbox.

Gearbox, known for its critically acclaimed Borderlands series, will continue to operate under Take-Two’s 2K label and will be led by its founder and COE, Randy Pitchford. This move comes as part of Embracer’s ongoing restructuring program, following the fallout of a failed $2 billion deal, resulting in studio closures and layoffs.

Take-Two CEO, Strauss Zelnick, expressed excitement about the acquisition, stating, ‘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.’ Meanwhile, 2K boss David Ismailer emphasized the integral role Gearbox has played in their success over the years.

Randy Pitchford also shared his enthusiasm about the new partnership, stating, ‘I’m incredibly excited about what we can accomplish now that we’re fully aligned as one.’ The acquisition is expected to enhance Take-Two’s financial profile and drive increased long-term growth by leveraging the full resources of the company across all of Gearbox’s initiatives.

This acquisition marks a significant move in the gaming industry, consolidating valuable intellectual property under Take-Two’s umbrella and setting the stage for future collaborative projects between the two entities.