Gearbox has been acquired by Embracer Group

The company already owns THQ Nordic and Koch Media.

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It has been revealed that Gearbox Studios has been acquired by Embracer Group, a Swedish video game holding company that has the likes of THQ Nordic and Koch Media within its vast portfolio. As Kotaku reports, the studio was purchased for $363 million (half cash and half Embracer Group shares) and an additional $1 billion has been agreed to be paid. The latter payment is, however, dependent on whether the studio continues to be profitable and meet its projected targets over the next six years.

Randy Pitchford, CEO of Gearbox Studios, shared his optimism on the recent acquisition and said: "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."

The extra backing is an exciting prospect indeed, especially considering some of the amazing projects that have come out of Gearbox over the past few years. Alongside the excellent Borderlands games, Gearbox has also developed the tactical shooter series Brothers in Arms and they were behind a total of six Half-Life projects.

Gearbox has been acquired by Embracer Group

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