Border countries and Brothers in arms developer Gearbox Entertainment was acquired by Embracer Group in a deal worth up to $ 1.38 billion.
The agreement will make Gearbox a wholly owned subsidiary of Embracer, which also owns THQ Nordic, Deep Silver, Saber Interactive and more.
The Swedish holding company will initially hand over $ 363 million, including cash and newly issued shares, before paying an additional consideration of up to $ 1.02 billion over the next six years, when certain financial and operational objectives are met.
Randy Pitchford, the long-time founder and CEO of Gearbox, will continue to lead the US company after the acquisition and will also become a “significant shareholder” in Embracer.
Pitchford explained that the business could serve as a “driver” for Gearbox, while Embracer CEO Lars Wingefors said he intended to position the studio for “significant continued growth in the coming years.”
As part of this growth plan, Embracer intends to work with Gearbox on all fronts, helping to develop, publish and manage key franchises, and noted that the agreement could pave the way for further mergers and acquisitions in North America.
“Through the merger, Embracer is engaged in one of the largest independent companies in the gaming industry, with proven experience in creating long-lasting franchises and delivering powerful original content,” the company said. “Gearbox will become the seventh operating group and will continue to operate as an independent studio focused on premium interactive gaming experiences.”
Border countries the 2K editor also influenced the news, explaining that the move will not affect his relationship with Gearbox or his role as editor on Border countries franchise and other projects.
“We look forward to continuing our long-term partnership with this incredibly talented team and providing many more exciting entertainment experiences to game fans around the world,” a company spokesman said.