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Gearbox has been bought by Embracer Group in $1.3 billion deal

Gearbox has been bought by Embracer Group in $1.3 billion deal

Borderlands creator and publishing house Gearbox Entertainment has been snapped up by Swedish holding firm Embracer Group (formerly THQ Nordic AB) for a tidy $1.3 billion, the studio announced yesterday.

Following a spree of acquisitions, this week’s buyout sees Gearbox become Embracer’s seventh official “operating group” alongside THQ Nordic, Saber Interactive, Koch Media, DECA Games, Amplifier Game Invest, and Coffee Stain Holding. With a minimum buyout price of $363 million (half in cash, half in Embracer shares), the deal may see Gearbox earn over $1.3 billion in total should the studio meet certain financial targets over the next six years.

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