0As Embracer Group goes through its restructuring process, the company is now reportedly weighing its options by putting Borderlands maker Gearbox up for sale, according to Reuters.
The report goes on to mention that Embracer Group is working with Goldman Sachs and Aream & Co to handle the possible sale and has gathered interest from multiple third parties are described as “consisting mainly of international gaming groups”, according to two of Reuters’ anonymous sources close to the situation. The sources in question did add that the deal may not happen at all, with all parties involved not commenting on the sale.
Embracer Group announced this past summer that it was planning to restructure itself to decrease debt in an upcoming “challenging year, said CEO Lars Wingefors, with studio closures, cancelled projects and layoffs expected. That is precisely what happened as Saints Row developer Volition announced its closure after 30 years late last month. This bad news follows a reported verbal commitment with Saudi Arabia’s government-funded company, Savvy Games Group, which would garner Embracer $2 billion over six years but fell through in the final hours.
Embracer Group bought Gearbox for $1.4 billion back in February 2021 and recently launched the Remnant 2 for the company back in July. If Gearbox does end up getting sold off, it will be interesting to see which exact game company is getting Gearbox and if that comes with the Borderlands IP. It would also be interesting to see what Embracer will be getting out of the sale and how much of an increase or decrease compared to the 2021 purchase if those numbers are public.
