Embracer Group, the company that has gobbled up developers and IPs over the past few years, is reportedly looking at selling off Borderlands developer Gearbox Entertainment. The Swedish firm's fortunes have taken a turn for the worse over the past few months, so despite only purchasing the publisher just over two years ago, it could be the subject of a sale having received interest from third parties.
That's according to Reuters (via Market Screener), citing three sources familiar with the situation. It's said a sale is only a possibility at this stage, with no concrete plans set yet. A third-party purchase would allow the Embracer Group to "shore up its finances" as it goes for a company-wide restructuring, which began in June. This has led to the closure of certain studios as well as employee layoffs.
The first studio to fall was Campfire Cabal, which was never given the chance to even release a game, and then it was the turn of Saints Row developer Volition. The Embracer Group has had to heavily scale back its efforts after a $2 billion agreement with another company fell through, speculated to be Savvy Games, which is funded by the Crown Prince of Saudi Arabia. PS5 console exclusive Star Wars: The Knights of the Old Republic Remake is also in development at the Embracer Group-owned team Saber Interactive, but it's been hit with a lot of problems during production. Whether it will even make it to market at this point remains very much up in the air.