Gearbox has been purchased by THQ Nordic’s parent Company “Embracer Group” for $1.3 billion. Gearbox Entertainment Company will now become the seventh operating group as a wholly own subsidiary of Embracer Group.

Embracer Group Purchases Gearbox Entertainment For $1.3 Billion, 2K Will Still Publish Borderlands

Randy Pitchford, CEO, and founder of Gearbox, will continue to lead Gearbox despite the acquisition. 

“Gearbox is arguably one of the most creative and valuable independent developers in the world. We believe that the resources offered by Embracer will position Gearbox for continued significant growth in the years to come” says Lars Wingefors

“Lars’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. The feeling at Gearbox is that we are just getting started and this transaction is not merely a stimulant for the talent of our employee-owned company, but a propellent for the exciting future we have planned.” said Randy Pitchford,

Despite the acquisition by Embracer group, the Borderlands franchise will continue to be published by 2K. This information comes from a statement given to IGN earlier today

"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 certainly has been a wild day for Embracer group, who also picked up Saber Interactive this morning as well. It doesn’t seem like Embracer has any interest in slowing down its acquisition and growth. The company’s seven operating arms are now Gearbox, Saber Interactive, THQ Nordic, Koch Media, and DECA Games.

Related: Kevin Hart Set to Star As Roland In Borderlands Movie

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