Embracer Group Acquires Gearbox Entertainment. Deal Worth Up To $1.3bn. Upfront cost $363 Million

The Embracer Group, which owns brands such as Koch Media and THQ Nordic have added Borderlands developer Gearbox to their portfolio. The deal has cost $363 Million up front but could be worth around $1.3 Billion, based on target performance over the next 5 years. All 550 staff at Gearbox retain their jobs.

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