Take-Two Purchases Gearbox Entertainment From Embracer For $460 Million

Embracer Group has divested Gearbox Entertainment from its stable of video game studios, with Take-Two Interactive purchasing the company for $460 million. This sale is part of Embracer's massive, ongoing restructuring designed to cut costs after a planned $2 billion deal with Saudi Arabia-backed Savvy Games Group fell through in 2023. The sale comes three years after Embracer acquired Gearbox for $1.3 billion in 2021. This move means Embracer no longer owns Gearbox's development entities, such ...