Exclusive: Take-Two's Potential Acquisition of Gearbox – CEO's Explosive Response!
Speculation surrounds Gearbox's potential acquisition as reports suggest the studio may be up for sale Take-Two emerges as a strong contender, igniting discussions about the possibility of a promising partnership
The studio responsible for Borderlands, Gearbox, is rumored to be up for sale as part of Embracer's restructuring efforts. Take-Two, known for publishing the Borderlands series, has emerged as a potential buyer. During Take-Two's recent shareholder meeting, CEO Strauss Zelnick was asked directly about this possibility. While he did not provide a definite answer, Zelnick praised Gearbox as a fantastic company that he believes will continue to produce excellent games in the future.
"We have had a longstanding partnership with Gearbox, a remarkable company that has not only delivered Borderlands but also other successful titles like Tiny Tina's Wonderlands," stated Zelnick (via VGC). "We have full confidence in their future success, and we are extremely pleased to maintain our longstanding publishing relationship with them for these titles. This publishing partnership remains unaffected by any changes in Gearbox's ownership. However, when it comes to our potential interest, we generally do not engage in speculations about potential transactions."
In 2022, Take-Two achieved a historic milestone in the gaming industry by completing the largest acquisition to date, acquiring Zynga for $12.7 billion. This record is likely to be surpassed soon, as Microsoft's planned acquisition of Activision Blizzard for $68.7 billion, anticipated to occur in October, will become the new benchmark.
Embracer initially purchased Gearbox for $1.3 billion in 2021, while still retaining Take-Two's 2K label as the publisher for the Borderlands series. This move for Gearbox to become an internal studio at Take-Two would not be considered surprising within the gaming industry. The two companies have collaborated on successful projects such as the Borderlands series and Battleborn. However, it is important to note that even though a deal may seem logical, it is not a guarantee. A similar example is Microsoft expressing interest in acquiring Nintendo, but such a deal is far from being certain.
As of June 30, Take-Two had a total of $776 million in cash and equivalents available.
