” GTA publisher Take-Two Interactive to acquire Gearbox Software for $460 million ” | GNN INFO

Take-Two Interactive Software, Inc., a major player in the interactive entertainment industry, has announced it is acquiring The Gearbox Entertainment Company for $460 million. 

The deal, conducted entirely in newly issued shares of Take-Two common stock, aims to bolster Take-Two’s portfolio with Gearbox’s renowned franchises like Borderlands and Tiny Tina’s Wonderlands. 

According to Take-Two’s press release, the move to acquire Gearbox marks a strategic step towards strengthening its creative talent pool and expanding its owned intellectual property. 

The deal will grant Take-Two ownership of Gearbox’s extensive lineup of successful franchises, including Borderlands, Tiny Tina’s Wonderlands, Homeworld, Risk of Rain, Brothers in Arms, Duke Nukem, and their upcoming projects.

Strauss Zelnick, Chairman and CEO of Take-Two, stated, “Our acquisition of Gearbox is an exciting moment for Take-Two and will strengthen our industry-leading creative talent and portfolio of owned intellectual property, including the iconic Borderlands franchise.”

Under the acquisition, Gearbox will operate as a studio within 2K, led by Randy Pitchford and his management team. The deal adds a talented development team to 2K’s roster and expands its presence with studios in Frisco, Texas; Montreal, Canada; and Quebec City, Canada.

Advisors for the deal include Willkie Farr & Gallagher LLP as legal counsel to Take-Two, with financial and tax advice provided by KPMG and Deloitte.

Take-Two Interactive Software, Inc., headquartered in New York City, is a leading developer, publisher, and marketer of interactive entertainment globally. Their products, developed primarily through Rockstar Games, 2K, Private Division, and Zynga, cater to various gaming platforms, including consoles, PC, and mobile devices.

The Gearbox Entertainment Company, LLC, known for its award-winning game franchises, operates as a creator and distributor of transmedia entertainment. Founded in 1999, Gearbox Software has garnered global recognition for its hit titles like Borderlands, Tiny Tina’s Wonderlands, and Brothers in Arms.

As with any forward-looking business endeavor, Take-Two advises caution regarding potential uncertainties and risks associated with the acquisition, detailed in their filings with the SEC.

The acquisition marks a significant milestone for both Take-Two and Gearbox, promising exciting prospects for the future of interactive entertainment.