Video game publisher Take-Two Interactive Software has acquired Gearbox Entertainment, the company behind the Borderlands franchise, for $460 million in an all-stock deal with Embracer, the latest big deal in the video game business.
The deal comes as Lionsgate is releasing Eli Roth’s theatrical adaptation of Borderlands in August. Take-Two said it expects the transaction “to deepen its successful relationship with Gearbox Entertainment and to provide increased financial benefits through a fully-integrated operational structure.” Gearbox’s extensive IP portfolio includes full ownership of the popular Borderlands and Tiny Tina’s Wonderlands franchises, as well as Homeworld, Risk of Rain, Brothers in Arms, Duke Nukem.
Gearbox currently has six interactive entertainment projects in various stages of development, including five sequels, two of which are from the Borderlands and Homeworld franchises, and at least one new property.
Beyond these plans, Take-Two said it believes that there are incremental opportunities to invest in new projects and to expand Gearbox’s proven franchises.
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