Gearbox and Embracer Group complete $1.3 billion merger

Gearbox Software Embracer Group

The merger of Gearbox and Embracer Group is complete, the companies announced today.

Embracer Group and Gearbox announced the $1.3 billion deal in February. Gearbox joins THQ Nordic, Koch Media, and Saber Interactive under the Embracer Group umbrella. With the merger complete, Embracer now has a catalog of more than 240 franchises and more than 7,000 employees around the world.

“Our team is incredibly excited about the opportunity we now have,” said Randy Pitchford, founder of Gearbox Entertainment. “Far from riding off into the sunset, we are now positioned to launch new IP, do more with our existing brands, grow our base of incredibly talented team members, and capitalize on new opportunities in our mission to entertain the world. This just the start.”

“This was the largest merger that Embracer has undertaken. I am grateful to Randy and his entire team for their enthusiasm, creativity and vision,” said Lars Wingefors, founder and CEO of Embracer Group.

Gearbox is best known for the Borderlands franchise. They also own the IP rights to Duke Nukem and Homeworld.

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