Just a few days ago, it was announced that the acclaimed developer of the Borderlands franchise, Gearbox Software, is being purchased by the Embracer Group for $1.3 Billion. Randy Pitchford, founder and CEO of Gearbox revealed more information about the acquisition and previous proposals.
Pitchford claims that he was always hesitant about selling the company. He believed that selling it would have led to more centralized control, and he isn’t a fan of that. However, the buyout with the Embracer Group makes sure that the Gearbox stays clear of the "corporate culture."
Lars Wingefors of Embracer Group told Pitchford that they have to give something opposite of control. They need to see how fast and far entrepreneurial groups, like Gearbox and other members of the Embracer Group, can run and grow through empowerment.
Pitchford believed that a decentralized arrangement like this wasn’t possible, but the offer proved him wrong. He also claimed that Gearbox makes a good candidate for acquisition as they have never lost money. That is evident with the success of the majority of its games. Obviously, there are a few exceptions, like Battleborn. Yet Gearbox Software’s latest game, Borderlands 3, was a big hit.
This acquisition doesn’t mean that the developer won’t work with other publishers. They will continue with the Borderlands franchise with 2K Games. Though an official sequel hasn’t been announced yet.
Pitchford further revealed that many other companies have shown interest or hinted at acquisition, and he has always said no. It seems like the freedom given to Gearbox with the Embracer Group was the actual deal maker.
“Many companies we've never worked with would hit us with a cold call, an unsolicited proposal. I've always been allergic to that,” Pitchford told VentureBeat.
So what do you think? Do you consider that the acquisition will be good for Gearbox? Are you looking forward to the next game by the development studio? Let us know your thoughts in the comments section below.
