Global news agencies Reuters and Bloomberg have reported that Embracer Group, a gaming company experiencing financial difficulties, is preparing to sell its studio Gearbox Software. There are already interested buyers for the studio.
Founded in 1999, Gearbox Software is a game studio based in Texas. Initially, the company focused on developing expansion packs for Half-Life, such as Opposing Force. Later, they ventured into creating their own games like Brothers in Arms and Borderlands, which achieved great success. The company also acquired the rights to develop sequels for Duke Nukem and Homeworld. In 2021, Gearbox Software was sold to Embracer for a whopping $1.3 billion.
According to Bloomberg, internal emails from Gearbox reveal that the studio has various options, including remaining part of the Embracer group, selling to other companies, or becoming an independent studio. Currently, they are deliberating on the best course of action.
Recently, Embracer also announced the closure of its studio Volition, known for the Saints Row game series. This decision was likely influenced by the underperforming latest installment of Saints Row. However, for Gearbox, which has had tremendous success with Borderlands, selling the studio to generate immediate cash flow might be a more suitable option.
TLDR: Embracer Group, facing financial troubles, plans to sell its game studio Gearbox Software. Interested buyers have already emerged. Gearbox, known for successful games like Borderlands, has multiple options, including remaining under Embracer, selling to other companies, or becoming an independent studio. Embracer recently shut down another studio, Volition, owner of the Saints Row series, due to poor performance.