Take-Two Interactive buying Gearbox from Embracer, more Borderlands on the way

Embracer Group continue to sell off more with the latest being Gearbox, which has been picked up by Take-Two Interactive in a $460 million deal.

As noted in the Embracer press release that Gearbox Software (Frisco, Texas), Gearbox Montréal, Gearbox Studio Quebec along with the Borderlands and Tiny Tina’s Wonderlands franchises, as well as Homeworld, Risk of Rain, Brothers in Arms and Duke Nukem will be going to Take-Two Interactive.

Embracer will however keep hold of Gearbox Publishing San Francisco (to be renamed prior to closing, formerly named Perfect World Entertainment), including the publishing rights to the Remnant franchise, the upcoming Hyper Light Breaker and other notable unannounced game releases. They also keep Cryptic Studios, including MMO titles Neverwinter Online and Star Trek Online, Lost Boys Interactive and Captured Dimensions.

Interestingly the deal is being done using "100% in newly issued Take-Two shares", which Embracer said they plan to "sell these shares to receive cash proceeds soon after closing".

In a separate press release for Take-Two, it confirms "Gearbox currently has six key 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 exciting new intellectual property" - so Borderlands 4 is coming then it seems.