As per usual from THQ Nordic, or more specifically its parent company Embracer Group, the firms are still hungry for acquisition and other capital investments to add to the ongoing list of acquired teams or welcomed merges to its catalogue. Most recently, the Swedish holdings firm announced to be fully acquiring Metro series developer. 4A Games.
Additionally, the parent company also announced in a later press release that following November to be picking up another handful or more of independent studios as well. The welcomed roster includes Purple Lamp Games, Zen Studios, Coffee Stain North, and Mad Head Games to name a few.
Now in a new press release issued on Wednesday, the firm announces to be forming a new merger with Borderlands developer, Gearbox Entertainment. The agreement will welcome the Texas-based studio to be Embracer Group’s seventh operating group.
Embracer Group AB (“Embracer”), has today entered into a merger agreement with US based The Gearbox Entertainment Company (“Gearbox”). Gearbox, based in Frisco, TX and founded in 1999, has been self-funded by the employees from inception. Post-closing, Gearbox will become a seventh operating group as a wholly own subsidiary of Embracer.
Gearbox Founder and CEO Randy Pitchford will continue to lead Gearbox, and Randy Pitchford and the employees of Gearbox will jointly become a significant shareholder in Embracer. Gearbox brings highly creative AAA development studios, North American publishing capabilities and a robust IP portfolio, including critically acclaimed and iconic franchises like Borderlands, Brothers in Arms and Homeworld.
In total, the planned agreement is told to be a “day one purchase” resulting in $363 million upfront. Additionally, Embracer Group will also deal in $175 million in Embracer B shares as well. “Gearbox is arguably one of the most creative and valuable independent developers in the world,” writes Lars Wingefors, Embracer Group CEO. “We believe that the resources offered by Embracer will position Gearbox for continued significant growth in the years to come.”
Elsewhere from Embracer Group, the firm also shares to be outright acquiring developer Aspyr alongside another merge with Easybrain Forming. The American developer is told to reside as a “stand-alone entity” under Saber Interactive following the purchase while the mobile game firm to said to be the eighth operating group for Embracer Group.
What are your thoughts on Embracer Group now merging with Gearbox Entertainment?