Embracer may sell Borderlands creator Gearbox amid financial woes

Embracer's days of buying nearly every game developer and publisher it possibly can seem to be over, with the company now looking to reduce expenses. It recently closed Saints Row studio Volition as part of a restructuring plan that includes layoffs and game cancellations. Embracer may now be set to sell one of its more valuable assets.

The company is considering several options for what to do with Borderlands creator Gearbox, according to Reuters. Some third parties are said to have shown interest in snapping up the developer and publisher, which Embracer bought in February 2021 in a deal that was worth up to $1.4 billion. Embracer is reportedly exploring a sale with the help of Goldman Sachs and Aream, while marketing materials are being made available to potential suitors.

Embracer said in June that it was making sweeping changes in order to reduce its debt by around $605 million to less than approximately $903 million by the end of its financial year. The Swedish company said at the time that a proposed investment worth over $2 billion over six years ultimately fell apart. It was later reported that the Saudi government-funded Savvy Games Group was the partner Embracer tentatively had a deal with.

This article originally appeared on Engadget at https://www.engadget.com/embracer-may-sell-borderlands-creator-gearbox-amid-financial-woes-161505145.html?src=rss