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This article covers a developing story. Continue to check back with us as we will be adding more information as it becomes available.

Summary

  • Gearbox joins the Take-Two Interactive/2K family, divested by Embracer Group for $460 million.
  • Randy Pitchford stays as CEO, with new Borderlands and Homeworld games in the works.
  • Embracer Group slashes costs by selling subsidiaries after acquiring 27 companies in recent years.
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A new Borderlands game has been revealed as developers Gearbox has officially joined the Take-Two Interactive/2K family. Embracer Group has recently begun rapidly cutting costs through mass lay-offs and closing or selling several of its subsidiaries after acquiring at least 27 companies in recent years.

A press release from Embracer Group confirmed the company has officially divested Gearbox Entertainment, selling the division to Take-Two Interactive for $460 million. A separate press release from Take-Two confirmed that Gearbox will continue to be led by CEO and founder Randy Pitchford, and has both a new Borderlands and Homeworld game in development.

Sources: Embracer Group, Gearbox Entertainment/X, Take-Two Interactive





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