GTA owner Take-Two to buy Gearbox Entertainment for $460 mln
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Take-Two Interactive Software Inc. has entered an agreement to acquire U.S. game developer Gearbox Entertainment for $460 million. The transaction will be funded entirely through newly-issued shares. Gearbox, known for its 'Borderlands' series, will operate as a studio within Take-Two and be led by founder and CEO Randy Pitchford. Take-Two and Gearbox are actively developing the next installment in the Borderlands series. The acquisition is expected to close in the first quarter of Take-Two's fiscal year 2025.
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