Borderlands developer Gearbox could be up for sale, according to a new report.
Earlier today, Reuters reported that Gearbox could be up for sale under parent company Embracer Group. The latter company is reportedly weighing up its options for the Borderlands developer, looking to "shore up its finances."
"Embracer is weighing selling the unit, which is known for first-person shooter game Borderlands, after receiving interest from third parties, two of the people said," Reuters writes. Embracer is reportedly working with Goldman Sachs to try and figure out how to proceed with Gearbox.
Gearbox was acquired by Embracer for $1.3 billion back in February 2021. At the time, the parent company said it would take the opportunity to expand both of Gearbox's studios, which are currently based in Austin, Texas, and Quebec, Montreal.
It has not been a good year for parent company Embracer. After going on a mass spending spree over the past two years, the company first began layoffs earlier this year in June, writing that it would be laying off an unannounced number of the 17,000 staff it manages around the world.
Then, earlier this month, Embracer shuttered Volition with no warning, ending a 30-year-old studio and leaving hundreds without jobs. This is reportedly the fallout of Embracer failing to close a $2 billion deal with Saudi Arabia, meaning the company immediately had to look at cutting costs as the deal fell apart behind closed doors. Gearbox could well be the next studio to suffer under Embracer.
Check out our new games 2023 guide for a look ahead at the near future of the games industry.