Embracer Group, a huge web of European developers and publishers including THQ Nordic and Deep Silver, announced today that they have gobbled up Gearbox. The gang behind Borderlands and Aliens: Colonial Marines merges with Embracer to become the seventh operating group in the family. The deal is worth $ 363 million (£ 262 million) to begin with. Gearbox says this is cool, and they plan to grow.
Embracer will pay $ 363 million (£ 262 million) in cash and pre-share for Gearbox. They say an additional $ 1,015 million (£ 734 million) in cash and stock could follow if Gearbox met its targets for the next six years.
Today’s announcement says Gearbox’s plans as part of Embracer include “the expansion of talent in both studios, the creation of new Gearbox studios, and expanded partnerships.” They say the merger “enables Gearbox to do more with its existing brands, create new brands and potentially acquire the merger and acquisition of other successful industries and industry-adjacent entities and properties.” Dream big then. Gearbox also has its own publishing house these days, remember.
Embracer (previously known as THQ Nordic AB and before that Nordic Games) now has 60 in-house development studios. They’ve bought over a dozen of them in the past six months, including Metro developers 4A Games and Shadow Warrior rebooters Flying Wild Hog.
Randy Pitchford will continue to lead Gearbox and sounds, ah, very professionally enthusiastic about Embracer CEO Lars Wingefors.
Lars’ vision of Embracer as an allied partner group committed to nurturing and accelerating the ambitions of a range of decentralized, successful entrepreneurial businesses, while increasing the collective value and benefits of diversification across the group is the most brilliant strategy and design for short, medium term. , and the long-term success in this industry that I have encountered in my 30 years in this industry, “said Pitchford. Well then.
It fills my heart with dread to see Embracer specifically mention Duke Nukem as one of the “critically acclaimed IPs” that “will stand out in Embracer’s extensive IP portfolio”. Are they threatening to make a sequel to Duke Nukem Forever? Didn’t that kill Duke forever? Police, help, they threaten me.
This news comes days after Battleborn’s servers were shut down, making Gearbox’s 2016 FPS completely unplayable.