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Embracer Group has divested Gearbox Entertainment from its stable of video game studios, with Take-Two Interactive purchasing the company for $460 million.
Embracer Group Unsponsored ADR (OTCMKTS: EBCRY) announced the divestment this week of Gearbox Entertainment to Take-Two Interactive Software Inc (NASDAQ: TTWO) for $460 million in a deal expected to be finalized by the
The company is pocketing at least $247 million from the sale of a business unit.
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.