Gearbox may soon be parting ways with Embracer Group as the mammoth conglomerate undergoes significant staff and studio losses in the wake of a restructuring effort triggered by the collapse of a $2 billion deal last year.
According to Kotaku, Gearbox is on the verge of finalizing a deal with an undisclosed buyer, merely three years after Embracer acquired the Borderlands studio for $1.3 billion.
CEO Randy Pitchford purportedly informed staff that the company has the option to remain under Embracer, sell to another entity, or reclaim its independence. As of a recent meeting, the second option seems to be nearing completion, though the identity of the potential new owner remains unclear.
Gearbox’s appeal to potential buyers isn’t solely its price tag but also its esteemed reputation. Initially viewed as a cornerstone in Embracer’s swiftly expanding portfolio of studios, Gearbox was acquired shortly after the success of Tiny Tina’s Wonderlands, a spinoff looter-shooter from the Borderlands franchise that exceeded expectations.
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Its success was such that Take-Two, the parent company of publisher 2K, hinted at the possibility of turning it into a new franchise altogether.
While Gearbox has yet to officially confirm the deal, discussions are anticipated to be held with employees in greater detail next month. Pitchford, however, offered a teasing response to Kotaku:
“I’m delighted that what we might be up to is interesting enough to people that you want to make a story about us for your readers. I’m honored and humbled that our company is a topic of rumor, speculation, and discussion. As always, we will be thrilled to share whenever we have projects to announce or news to share as we work hard towards our mission to entertain the world.”
Embracer appears to be jettisoning Gearbox from its dwindling assets to procure funds for its own endeavors, marking the latest in a series of cost-cutting measures.
Just today, it was revealed that Embracer-owned Saber Interactive, currently involved in the Star Wars: Knights of the Old Republic remake, is reportedly being divested in a separate $500 million deal. Altogether, Embracer quietly scrapped 29 undisclosed game projects and shuttered seven studios within a six-month period last year.