Borderlands 3 developer Gearbox purchased for $1.3 billion by Embracer Group

Borderlands 3 Arms Race — (Image credit: Gearbox)

Borderlands 3 developer Gearbox Entertainment has been bought for $1.3 billion by the Embracer Group.

As first reported by VentureBeat, Gearbox Entertainment will be acquired by the Sweden-based Embracer Group which, at the time of writing, has over 5,500 employees worldwide. Gearbox's two studios, in Texas and Quebec City, Canada, will be added to that enormous roster of employees.

In the wake of the acquisition, Gearbox has plans to expand at both internal studios, and will be looking to develop both existing and new IP going forward. However, it has been confirmed by 2K that they will continue to publish games in the Borderlands series.

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In a statement sent to GamesRadar, a 2K spokesperson said: “As the proud publisher of the Borderlands franchise, we are happy for our partners at Gearbox and this exciting new chapter for their organization. The merger does not change 2K’s relationship with Gearbox nor our role as the publisher for the Borderlands IP or any other projects we are currently working on with the studio. We look forward to continuing our long-term partnership with this incredibly talented team and delivering many more exciting entertainment experiences to gaming fans around the world.”

It's been confirmed that Pitchford will retain his role as head of Gearbox Software, a position he's held since he helped found the company in 1999.

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Hirun Cryer is a freelance reporter and writer with Gamesradar+ based out of U.K. After earning a degree in American History specializing in journalism, cinema, literature, and history, he stepped into the games writing world, with a focus on shooters, indie games, and RPGs, and has since been the recipient of the MCV 30 Under 30 award for 2021. In his spare time he freelances with other outlets around the industry, practices Japanese, and enjoys contemporary manga and anime.