GTA publisher Take-Two Interactive officially owns Gearbox Entertainment

Modified Jun 13, 2024 07:03 GMT

gta — Gearbox Entertainment is now a part of GTA publisher Take-Two Interactive (Images via Take-Two Interactive, Gearbox Entertainment)

Gearbox Entertainment is now officially part of Take-Two Interactive, which publishes GTA games on behalf of Rockstar Games. The matter has been in discussion since March 2024, and a recent official Newswire from Embracer Group AB confirmed that the transfer process is now complete. With this, all projects developed by Gearbox Entertainment are now a part of Take-Two Interactive Software, Inc.

The official Newswire published by Embracer Group AB mentioned various details of the transactions between the companies.

GTA owner Take-Two Interactive acquires Gearbox Entertainment

A screenshot of the official Newswire published by Embracer Group AB (Image via Embracer Group AB)

On March 28, 2024, the first news of GTA publisher Take-Two Interactive acquiring Gearbox Entertainment came into the limelight. Again, on June 11, 2024, Embracer Group AB shared a press release, announcing that the shares of Gearbox Entertainment have been divested to Take-Two Interactive.

The official Newswire stated the following:

“As part of the transaction and settlement of certain earnout obligations 8,320,839 B shares of Embracer have been issued today at a subscription price of SEK 98.78 per share.”

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It is worth noting that with this transaction, the following assets will no longer be a part of Embracer Group AB:

Gearbox Software
Gearbox Montréal
Gearbox Studio Quebec
Video game franchises such as Borderlands, Tiny Tina’s Wonderlands, Risk of Rain, etc.

While the acquisition comes as positive news, Take-Two Interactive will close two studios this month. According to a recent report by Jason Schreier (X/@jasonschreier), the GTA publisher will shut down Roll7 and Intercept Games starting June 28, 2024.

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This has confused gaming fans as, on one hand, publishing Grand Theft Auto 6 is the most important task on Take-Two Interactive’s plate; on the other hand, the company is acquiring and shutting down gaming studios.

Nonetheless, gamers are eager to see what the parent company does with the acquired video game franchises. In the meantime, the GTA 6 release window announcement has also unfavourably impacted Take-Two Interactive.

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Edited by Dinesh Renthlei