Embracer Group has today entered into a merger agreement with The Gearbox Entertainment Company, also known as Gearbox. In addition, Embracer Group has acquired Aspyr Media through its wholly-owned subsidiary Saber Interactive.
The transaction with Gearbox will be worth up to $1.3B. This transaction will also provide Gearbox with access to capital, adding rocket fuel to Gearbox’s powerful creative engine. It will also position Gearbox’s robust IP catalogue, AAA development studios, and North American publishing capabilities to become a significant part of the Embracer Group’s diverse and robust family of member companies.
Randy Pitchford, founder of The Gearbox Entertainment Company, said:
“Lars’s 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.”
Lars Wingefors, founder and CEO of Embracer Group, added:
“Gearbox is arguably one of the most creative and valuable independent developers in the world. We believe that the resources offered by Embracer will position Gearbox for significant growth in the years to come.”
Gearbox will become Embracer Group’s seventh operating group. Lastly, Randy Pitchford will continue in his current role as head of Gearbox Entertainment.