The Gearbox Entertainment Company and Embracer Group have successfully concluded their $ 1.3 billion merger agreement, announced in February.
The merger makes The Gearbox Entertainment Company the seventh industry group in the Sweden-based Embracer Group, which has more than 240 franchises and 7,000 employees around the world, and positions The Gearbox Entertainment Company for ‘rapid growth’ with its’ robust IP catalog ‘, AAA development studios and North American publishing capabilities. The Gearbox Entertainment Company currently has 550 employees in its studios in Frisco, Texas and Quebec City.
“Our team is incredibly excited about the opportunity we have now,” Randy Pitchford, founder of The Gearbox Entertainment Company, said in a press release. ‘We are not far off in the sunset, but we are now able to launch new IPs, do more with our existing brands, grow our base of incredibly talented team members and seize new opportunities in our mission around the world to entertain. This is just the beginning. ‘
Lars Wingefors, founder and CEO of Embracer Group, added: ‘This was the biggest merger Embracer undertook. I am grateful to Randy and his entire team for their enthusiasm, creativity and vision. We are confident in the long-term future of Gearbox within Embracer Group. ”
In addition to The Gearbox Entertainment Company, the acquisition of Aspyr Media and merger with Easybrain were also completed.