Gearbox Acquired by THQ Nordic Parent Company Embracer Group

Gearbox Entertainment will be officially acquired by Embracer Group for up to $1.3 billion, which adds the Borderlands developer to a host of development groups that Embracer controls, such as THQ Nordic, Koch Media/Deep Silver, Coffee Stain, Saber Interactive and others.

“Lars [Wingefors]’s vision of Embracer as an allied partner group committed to fueling and accelerating the ambitions of a series of decentralized, successful entrepreneurial member companies while magnifying the collective value and advantages of diversification across the entire group is the most brilliant strategy and design for short, medium, and long-term success in this industry that I have worked in during 30 years,” said Gearbox founder and head Randy Pitchford.