doesn't gearbox publish risk of rain? seems like a big loss
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So Embracer grew too quickly and now they're shedding studios like crazy trying to stabilize their finances, I just hope it doesn't end up in yet another THQ implosion... or that they at least sell Tomb Raider (and the rest of Crystal Dynamics) to someone else before going under.
And so Duke Nukem changes hands yet again.
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I'm surprised they are "divesting" Borderlands off right before the movie gets released (although judging from the trailer, I doubt it will be a hit) but then again I guess they already made money on the rights so they can now sell it to someone else?
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Brief: Embracer Group has today entered into an agreement to divest Gearbox Entertainment, for a consideration of USD 460 million (SEK 4.9 billion) to Take-Two Interactive Software, Inc. (“Take-Two”). ... Closing is expected in Q1 FY 24/25, ending June 2024. ... [T]he expected net cash proceeds amount to approximately USD 300-330 million (SEK 3.2-3.5 billion).
The divested assets include [sold to Take-Two]:
The retained assets include [not sold off]:
The retained companies will be welcomed and integrated into other parts of Embracer Group in the coming period. All companies are expected to contribute with a positive cash flow going forward.
https://embracer.com/releases/embracer-group-divests-gearbox-entertainment-for-a-consideration-of-usd-460-million-to-take-two-interactive-software-inc/
A message from Randy Pitchford:
https://twitter.com/gearboxofficial/status/1773195417653506202
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