Embracer Acquires Borderlands Developer Gearbox for $1.3B

Gearbox today announced they will join Embracer Group as a wholly-owned subsidiary of the Sweden-based company formerly known as THQ Nordic. The transaction, which is worth up to $1.3 billion, will see Gearbox become a significant part of the Embracer Group’s growing family of member companies, which today also added U.S.-based Aspyr Media for $100 million. Gearbox confirmed that Randy Pitchford will continue in his current role as head of Gearbox Entertainment.