Borderlands developer Gearbox reportedly put up for sale by Embracer

Following a botched $2 billion deal, Swedish gaming conglomerate Embracer Group has been offloading studios — like Saints Row developer Volition — in an effort restructure the company. The company’s next goal? Gearbox Entertainment is the Borderlands publisher and developer, according to Reuters.

Embracer, a U.S. based developer that released its last product in 2009, is said to be considering options. Tiny Tina’s WonderlandsThe following are some examples of how to get started: Tales from the Borderlands In 2022. Reuters stated that there were third parties in the recording studio. Neither Gearbox nor Embracer has responded to Polygon’s request for comment. Axios reported that Embracer had been working on a $2 billion agreement with the Saudi-funded Savvy Games Group. Savvy had invested $1 billion into Embracer previously, but ultimately pulled out. And so, Embracer’s industry consolidation started to collapse as the company looks to reduce its debt to under $930 million.

Embracer only owns Gearbox from 2021. The mega-publisher purchased the company for a price of nearly $1.4 billion. Embracer acquired two studios the very same day.

It was no surprise that the Swedish publisher had a rapid expansion. They are known for their aggressive expansion strategies. Tomb Raider rights were acquired in 2022 when Embracer purchased Eidos, Crystal Dynamics and Square Enix Montreal. Embracer purchased licensing rights in the same year. The Lord of the Rings You can also find out more about the following: The HobbitMiddle-earth Enterprises acquired the rights to Middle-earth Enterprises. In 2013, the company reported that five Lord of the Rings titles were in development.

“We know we need to be exploiting Lord of the Rings in a very significant fashion, and turn that into one of the biggest gaming franchises in the world,” Embracer chief operating officer Matthew Karch said in June. “And that’s obviously something that we’re going to do be doing. That’s a much better use of resources than some of the other projects that some of our teams have been working on.”

Embracer Group has approximately 17,000 employees. Unspecified numbers are anticipated to be layoffs as restructuring proceeds in multiple phases through March 2024. Embracer shut down Volition (Saints Row’s developer) and Cabal Campfire (based in Copenhagen), which had only been founded in 2022. Others Gearbox Publishing workers have also been let go.