Borderlands developer Gearbox reportedly set to leave Embracer Group

The future of Gearbox will reportedly be revealed in March 2024.
borderlands 3 cover gearbox

A new report from Kotaku has alleged Borderlands developer Gearbox is in the final stages of being sold to a new company, with details set to be shared in March 2024. According to sources speaking to the website, a Gearbox all-staff town hall meeting took place on Thursday, and it was here that company CEO Randy Pitchford confirmed a decision over the studio’s future had been made.

The future of the company has been in doubt for several months, as parent company Embracer Group announced plans to cut costs that included staff layoffs, studio closures and planned studio sales. Gearbox was flagged early on as potentially being on the market – and now, it appears it might finally depart Embracer Group.

Per reporting from Kotaku, Pitchford outlined a number of options for Gearbox in the all-staff meeting, claiming it had three viable paths forward: a buy out to become independent, staying with Embracer, or being sold to another company. Kotaku claims a firm decision has now been made, and a deal to sell the company is in the process of being finalised.

Read: Embracer Group reportedly sells Saber Interactive for USD $500 million

In a statement to Kotaku, Pitchford played very coy, refusing to confirm or deny rumours and instead telling the website: “I’m delighted that what we might be up to is interesting enough to people that you want to make a story about us for your readers.”

“As always, we will be thrilled to share whenever we have projects to announce or news to share as we work hard towards our mission to entertain the world.”

For now, it appears Gearbox is playing its cards close to its chest but per Kotaku, we could learn more about the company’s future imminently. In the meantime, there’s plenty of speculation doing the rounds, including that Gearbox has been sold to Take-Two. Nothing is confirmed just yet, so it’s best to stay tuned for more.

Leah J. Williams is a gaming and entertainment journalist who's spent years writing about the games industry, her love for The Sims 2 on Nintendo DS and every piece of weird history she knows. You can find her tweeting @legenette most days.