What you need to know
Embracer Group, owner of Gearbox, is reported to be weighing options, including a full sale, for the Borderlands developer.
Embracer bought Gearbox in 2021 in a deal valued around $1.4 billion.
The news comes less than two weeks after Embracer decided to close Volition of Saint's Row fame.
Embracer Group made a fast name for itself by scooping up studios and IP galore, but in recent times things have taken a sour turn.
Less than two weeks after the news Embracer was shutting down Volition Games, many of whose staff ended up being moved to Gearbox, a story from Reuters claims that Gearbox itself could be next on the chopping block.
"The maker of Tomb Raider video games, whose shares are traded in Stockholm, is working with Goldman Sachs and Aream & Co to explore a sale, the people said.
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."
It doesn't seem like a foregone conclusion with Embracer weighing options, but the report goes on to claim that there are already third-parties interested, as well as marketing materials produced for interested suitors.
Embracer is no stranger to the headlines, with its vast acquisition strategy scooping up not just Gearbox, but other studios including Square Enix's western portfolio and taking control of the Tomb Raider and Deus Ex IPs. But a more recent development saw the company lose out on a $2 billion deal and the dropping share price that followed.
Gearbox is clearly a golden goose in the Embracer stable, with its most famous franchise the much-loved Borderlands. More recently we've seen Gearbox publish Remnant 2, and it also has the rights to the Risk of Rain IP. Gearbox and Borderlands would certainly attract a few buyers with their wallets wide open.
The question is...who would buy it? Microsoft? Sony? Someone else? I guess we'll have to wait and see how it all pans out.