Take-Two Acquires ‘Borderlands’ Developer Gearbox For $460 Million
Offloading Gearbox is the latest move by Swedish media giant Embracer Group, which is restructuring after a $2 billion investment deal fell through last summer.
Offloading Gearbox is the latest move by Swedish media giant Embracer Group, which is restructuring after a $2 billion investment deal fell through last summer.
Gaming giant Embracer continues a restructuring made necessary by the collapse of a $2b investment deal in mid-2023.
According to Embracer, the company laid off 900 workers worldwide in Q2 of this year, around 5% of its global workforce.
Between its Champaign, Illinois headquarters and its remote staff, Volition employed more than 240 people.
The company owns 138 internal game development studios and employs 16,600 workers in more than 40 countries.
With the purchase, the holding group now owns films, video games, board games, merchandising, theme parks, and stage production rights.