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Offloading Gearbox is the latest move by Swedish media giant Embracer Group, which is restructuring after a $2 billion investment deal fell through last summer.
Sweden game conglomerate grows even larger Posted on Embracer Group AB has announced a merger agreement with US based The Gearbox Entertainment Company. Gearbox, based in Frisco, TX and founded in 1999, has been self-funded by the employees from inception. Post-closing, Gearbox will become a seventh operating group as a wholly own subsidiary of Embracer. Gearbox Founder and CEO Randy Pitchford will continue to lead Gearbox, and Randy Pitchford and the employees of Gearbox will jointly become a significant shareholder in Embracer. The day one purchase price amounts to USD 363 million in total...