Granted, that’s over 6 years, but still!
Tiny Tina’s about to get a big paycheck.
As of today, Gearbox Software, the parent company behind the worldwide favorite Borderlands franchise, is set to merge with Embracer Group in a six-year valuation that should tally up to nearly $1.4 billion. The news broke via an annoncement from Embracer, which was formerly known as THQ Nordic AB, and is a global video game publisher and developer behind franchises such as Saints Row, Goat Simulator, Darksiders, Metro, and World War Z among others. Now, they can add Borderlands to the mix.
Gamers of all ages probably recognize Gearbox’s name. A subsection also likely recognize the name of Randy Pitchford, the founder and CEO of Gearbox. Uniquely, Pitchford and the employees of Gearbox fully own the company and its pubilshing and development wings; they’ll now become joint shareholders of Embracer. A chunk of change (and stock options) totalling more than $360 million drops Day One for the Gearbox gang, with plans for an additional $1+ billion in valuation over the next six years. That means expanding the talent pool at Gearbox, creating new Gearbox studios, and expanded new and existing partnerships.
Some of those partnerships include deals with Take-Two and 2K Games labels, which Pitchford elaborated on during a Q&A with Embracer (via Polygon):
“We love our relationship with Take-Two and the 2K Games label, and we are committed to working together through all of the known and planned Borderlands work that we have going on. I anticipate that we’ll continue and make new opportunities together.”
Pitchford later said that Gearbox has “a relationship with Take-Two where we’ve agreed on certain rights for exploitation of the IP — the IP is a Gearbox IP.”
For their part, 2K Games replied in a separate statement:
“As the proud publisher of the Borderlands franchise, we are happy for our partners at Gearbox and this exciting new chapter for their organization. The merger does not change 2K’s relationship with Gearbox nor our role as the publisher for the Borderlands IP or any other projects we are currently working on with the studio. We look forward to continuing our long-term partnership with this incredibly talented team and delivering many more exciting entertainment experiences to gaming fans around the world.”
Gearbox, meanwhile, has their own Borderlands movie in the works, currently starring Cate Blanchett and Kevin Hart in the Lionsgate production. Additionally, Embracer also picked up a pair of studios in a separate deal, including Saber Interactive’s Aspyr Media, and the logic-puzzle focused mobile game-maker, Easybrain. [Union Square Advisors, a boutique technology-focused investment bank, served as Gearbox’s financial advisor in merger with Embracer.]
Art Director Tomonori Takano has answered our prayers.
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