Gearbox is Purchased by Embracer Group, the THQ Nordic Guys

Gearbox, the famously independent studio responsible for Borderlands, Duke Nukem Forever, and of course, Battleborn, is finally independent no more -- after being off the leash for over 22 years, it's finally been purchased by Embracer Group, the people behind THQ Nordic, Saber Interactive, Koch Media, and others.

Despite Gearbox's prestige, the buying price was actually pretty low, as these things go: Embracer Group paid $363 million for the purchase, half in cash, and half in stock. However, if Gearbox is able to hit certain financial milestones within six years of the purchase, Embracer Group can expect to pay up to a billion more over time, in both cash and stock options. Not a bad deal for ol' Randy.

Speaking of that foul-mouthed, physically abusive crybaby, he's still going to stick around as boss, and has released this statement, specifically talking about one Lars Wingefors, who is currently Embracer’s CEO :
 

Lars’s vision of Embracer as an allied partner group committed to fueling and accelerating the ambitions of a series of decentralized, successful entrepreneurial companies while magnifying the collective value and advantages of diversification across the entire group is the most brilliant strategy and design for short, medium, and long-term success in this industry that I have ever encountered in my 30 years in this industry. The feeling at Gearbox is that we are just getting started and this transaction is not merely a stimulant for the talent of our employee-owned company, but a propellent for the exciting future we have planned.

You can tell it actually came from Randy Pitchford, given how awful it is. The fact this deal has the potential to make Randy Pitchford a billionaire, of course, is not mentioned as a reason for his decision to sell.

Well, that's just how it is these days. The rich get richer, no matter how much Gamestop stock we buy.