Game Developer Gearbox Purchased By Embracer Group

Lots of gamers out there will be familiar with Gearbox Studios. The studio developed popular franchises, including Borderlands and Homeworld. Gearbox Studios has been purchased by the Embracer Group, which is a Swedish company that already owns THQ Nordic and Koch Media.

The purchase of Gearbox marks the seventh videogame developer the group owns. The new owner plans to expand Gearbox operations adding new studios and staff to create new brands. It will also look for more properties to purchase and add to the studio’s umbrella.

Current gearbox head Randy Pitchford will stay on in his position. The official statement from Pitchford, with mentions of Embracer CEO Lars Wingefors, reads:

“Larss vision of Embracer as an allied partner group committed to fueling and accelerating the ambitions of a series of decentralized, successful entrepreneurial companies while magnifying the collective value and advantages of diversification across the entire group is the most brilliant strategy and design for short, medium, and long-term success in this industry that I have ever encountered in my 30 years in this industry. The feeling at Gearbox is that we are just getting started and this transaction is not merely a stimulant for the talent of our employee-owned company, but a propellent for the exciting future we have planned.”