Embracer has entered an agreement to sell Gearbox Interactive to Take-Two for $460m.

When this transaction is complete, Take-Two will acquire the Borderlands and Tiny Tina’s Wonderlands franchises, as well as Homeworld, Risk of Rain, Brothers in Arms and Duke Nukem. Closing is expected to be finalised in Q1 FY 24/25, ending June 2024.

Following this, Embracer will still retain a number of assets such as Lost Boys, which Gearbox acquired in 2022.