This has been quite a week for Gearbox Software. It started off with the not so good news of Battleborn officially shutting down for good, which did not surprise anyone. However, that was followed by the announcement of a blockbuster deal in which Gearbox Software would be acquired by the folks over at the Embracer Group. The deal is valued close to $1.3 billion USD, which is certainly an eyewatering sum. For Gearbox CEO Randy Pitchford, the money is just the beginning. The Gearbox Software and Embracer Group unification is going to allow the team the capacity to take risks on new ideas and IPs.
Speaking to VentureBeat, Pitchford explained that the acquisition will give the developers at Gearbox more leeway to explore creative ideas. The more traditional way has always been to wait for the right publisher to come along. While that has found success in the past, it is not always the case. As such, Gearbox can now take on the risks and venture forth with the backing of the Embracer Group.
Pitchford compared Gearbox’s acquisition to Epic Games’ decision to sell off the Gears of War IP to Microsoft before finding even more success with Fortnite. Instead of losing something in order to pursue something greater though, Gearbox will now have the ability to do both.
This is a sentiment that is echoed by Embracer Group CEO Lars Wingefors as well. The new parent company of Gearbox views the acquisition as an asset that can grow on its own. By entrusting the Gearbox to its existing leaders, the idea is to let the company keep doing what it does best. With the support of Embracer, things will hopefully be even better.
Gearbox Software joins seven other major operating groups under the Embracer umbrella. Those include Amplifier Game Invest, Coffee Stain Holding, DECA Games, Easybrain, Koch Media, Saber Interactive, and THQ Nordic. Needless to say, this makes Embracer a major player in the industry.
It remains to be seen just what else Embracer Group and Gearbox Software are looking to do in the future.