As the industry continues to move towards consolidation, yet another large developer is falling under a new umbrella. Late yesterday evening, Gearbox Software announced that it had been acquired by Embracer Group (parent company of THQ Nordic). You can find their formal statement here.
The Embracer Group is a Sweden-based company that now owns a catalog of over 200 IPs and represents over 5,500 employees. CEO of Embracer Group, Lars Wingefors, issued the following statement:
“Gearbox is arguably one of the most creative and valuable independent developers in the world,” “We believe that the resources offered by Embracer will position Gearbox for significant growth in the years to come.”
Randy Pitchford will remain the Head of Gearbox Software and had the following to say:
“Lars’s vision of Embracer as an allied partner group committed to fueling and accelerating the ambitions of a series of decentralized, successful entrepreneurial companies while magnifying the collective value and advantages of diversification across the entire group is the most brilliant strategy and design for short, medium, and long-term success in this industry that I have ever encountered in my 30 years in this industry,” “The feeling at Gearbox is that we are just getting started and this transaction is not merely a stimulant for the talent of our employee-owned company, but a propellent for the exciting future we have planned.”
As the gaming industry continues its record growth, we’re seeing the big players acquiring talent and IP ownership more often. As we always say, content is king and as the long-term battle for engagement continues, it’s no surprise that we continue to see acquisitions across the industry. You can expect this to continue for years to come.
[…] morning, Embracer Group announced that A Quiet Place is in development by iLLOGIKA, a Montreal-based studio with veterans […]