TTWO - Take-Two Interactive to Spend $460 Million to Acquire Gearbox Entertainment From Embracer. Here's What Investors Need to Know.
2024-04-04 11:37:00 ET
The video game industry is always in motion. Popular game franchises and successful developer studios change hands all the time, and two of the most energetic movers and shakers in recent years just struck another deal.
In a $460 million contract, industry giant Take-Two Interactive (NASDAQ: TTWO) is buying Gearbox Entertainment from Swedish game-studio manager Embracer Group (OTC: THQQ.F) .
The Gearbox deal has a curious structure. Embracer is parting ways with the main Gearbox studios in Canada and Texas, along with hit titles in the Borderlands , Duke Nukem , Brothers In Arms , and Tiny Tina's Wonderlands game worlds. That's about two-thirds of Gearbox, in terms of employee headcount and the book value of games currently under development.
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Take-Two Interactive to Spend $460 Million to Acquire Gearbox Entertainment From Embracer. Here's What Investors Need to Know.