Editing Gearbox Software (section)

== History ==
===Formation and initial growth (1999–2008)===
[[File:Gearbox Software logo (1999).jpg|thumb|left|The primary of two variations of Gearbox Software's original logo created by Brian Martel, Stephen Bahl and Landon Montgomery. The "gearbox" text was produced using Martel's old typewriter because Martel felt that only it had the [[font]] with an ideal lower-case "g".<ref name="GameSpy">{{cite web |url=http://www.gamespy.com/articles/697/697083p6.html |title=GameSpy Retro: Developer Origins, Page 6 of 19 |first=John |last=Keefer |date=March 31, 2006 |website=[[GameSpy]] |archive-url=https://web.archive.org/web/20070609133126/http://www.gamespy.com/articles/697/697083p6.html |archive-date=June 9, 2007 |url-status=dead}}</ref>]]
Gearbox Software was founded on February 16, 1999, by [[Randy Pitchford]], Brian Martel, Stephen Bahl, Landon Montgomery and Rob Heironimus, five developers formerly of Rebel Boat Rocker.<ref name="GameSpy" /><ref>{{cite web |url=https://twitter.com/gearboxofficial/status/170187694733922304 |title=Gearbox Official on Twitter: "It's our birthday! Gearbox Software was founded thirteen years ago on February 16, 1999." |author=Gearbox Software |date=February 16, 2012 |website=[[Twitter]] |access-date=May 11, 2019 |archive-date=November 4, 2022 |archive-url=https://web.archive.org/web/20221104020059/https://twitter.com/gearboxofficial/status/170187694733922304 |url-status=live }}</ref> Before Rebel Boat Rocker, Pitchford and Martel previously worked together at [[3D Realms]], and Montgomery previously worked at [[Bethesda Softworks]]. By 2000, the company employed 15 people.<ref>{{cite web|first=Joseph|last=Gelmis|url=https://www.newspapers.com/clip/94258396/newsday/|title=New Life For Half-Life|newspaper=[[Newsday]]|page=127|date=April 12, 2000|accessdate=February 5, 2022|via=[[Newspapers.com]]|archive-date=November 4, 2022|archive-url=https://web.archive.org/web/20221104020053/https://www.newspapers.com/clip/94258396/newsday/|url-status=live}}</ref>

They started with developing expansions to [[Valve Corporation|Valve]]'s ''[[Half-Life (video game)|Half-Life]]''. Porting ''Half-Life'' to console platforms (each with new game content) followed, building the company's experience in console game-making, in addition to enhancing and building upon the successful ''[[Counter-Strike]]'' branch of the ''Half-Life'' franchise. Prior to ''[[Half-Life 2]]'', they had developed or helped develop every ''Half-Life'' expansion game or port, including ''[[Half-Life: Opposing Force|Opposing Force]]'', ''[[Half-Life: Blue Shift|Blue Shift]]'', ''[[Counter-Strike: Condition Zero]]'', ''Half-Life'' for the Sony [[PlayStation 2]] (including ''[[Half-Life: Decay]]''), and ''Half-Life'' for the Sega [[Dreamcast]] (including ''Blue Shift''). Branching out to other publishers, they pursued additional [[Porting|port]] work, each game being released with additional content, but this time from console to PC. These projects included their first non-first-person shooter, ''[[Tony Hawk's Pro Skater 3]]'', and ''[[Halo: Combat Evolved]]'', forging new publisher relationships with [[Activision]] and [[Microsoft Game Studios]] respectively. Additional new development, in the form of a PC game in the [[James Bond]] franchise (''[[James Bond 007: Nightfire]]'') for [[Electronic Arts]], also occurred during the company's initial 5-year period.

In 2005, they launched an original property of their creation, ''[[Brothers in Arms (series)|Brothers in Arms]]'', with the release of ''[[Brothers in Arms: Road to Hill 30]]'' on the [[Xbox (console)|Xbox]], [[Personal computer|PC]] and PlayStation 2. Later that year a sequel, ''[[Brothers in Arms: Earned in Blood]]'', was launched. In 2008, ''[[Brothers in Arms: Hell's Highway]]'' was released.

2007 brought announcements of new projects based on licensed film intellectual properties, including the crime drama ''[[Heat (1995 film)|Heat]]''<ref>{{cite web |last=Thorsen |first=Tor |url=http://www.gamespot.com/articles/e3-06-gearbox-turning-up-iheat-i-on-next-gen-consoles/1100-6150948/ |title=E3 06: Gearbox turning up ''Heat'' on next-gen consoles |website=[[GameSpot]] |publisher=[[CBS Interactive]] |date=August 2, 2009 |access-date=October 22, 2016 |url-status=live |archive-url=https://web.archive.org/web/20150608003119/http://www.gamespot.com/articles/e3-06-gearbox-turning-up-iheat-i-on-next-gen-consoles/1100-6150948/ |archive-date=June 8, 2015}}</ref> and the science-fiction classic ''[[Alien (franchise)|Aliens]]''.<ref name="gibiz aliens">{{cite web |url=http://www.gamesindustry.biz/articles/sega-and-twentieth-century-fox-licensing-merchandising-to-bring-alien-franchise-to-next-gen-systems |title=SEGA And Twentieth Century Fox Licensing & Merchandising To Bring Alien Franchise To Next-Gen Systems |website=gamesindustry.biz |date=December 11, 2006 |access-date=October 22, 2016 |url-status=live |archive-url=https://web.archive.org/web/20161023062136/http://www.gamesindustry.biz/articles/sega-and-twentieth-century-fox-licensing-merchandising-to-bring-alien-franchise-to-next-gen-systems |archive-date=October 23, 2016}}</ref> In the September 2007 issue of [[Game Informer]], Pitchford stated that development on the ''Heat'' game had not yet begun, as the planned development partner for the project had gone under.<ref>{{cite web |last=Robinson |first=Andy |url=http://www.gamesradar.com/what-happened-to-gearboxs-heat/ |title=What Happened To Gearbox Software's Heat? |website=[[GamesRadar]] |publisher=[[Future plc|Future]] |date=August 17, 2007 |access-date=October 22, 2016 |url-status=live |archive-url=https://web.archive.org/web/20161022225418/http://www.gamesradar.com/what-happened-to-gearboxs-heat/ |archive-date=October 22, 2016}}</ref><ref name="kotaku blands announce">{{cite web |url=http://www.kotaku.com.au/2007/08/2k_runs_for_the_borderlands/ |title=2K Runs For The Borderlands |website=[[Kotaku]] |publisher=[[Univision Communications]] |date=August 17, 2007 |access-date=October 31, 2007 |url-status=dead |archive-url=https://web.archive.org/web/20161022222707/http://www.kotaku.com.au/2007/08/2k_runs_for_the_borderlands/ |archive-date=October 22, 2016}}</ref> This was followed by an announcement by [[Sega]] that they would be helming a new version of rhythm game ''[[Samba de Amigo]]'' for the [[Wii]], a departure from their signature first-person shooter titles.<ref>{{cite web |url=http://gonintendo.com/?p=25760 |title=Samba De Amigo Announcement |publisher=[[Nintendo Power]] |date=September 23, 2007 |access-date=October 22, 2016 |url-status=live |archive-url=https://web.archive.org/web/20160828130326/http://gonintendo.com/?p=25760 |archive-date=August 28, 2016}}</ref>

===''Borderlands'' and studio expansion (2009–2015)===
Work on a new intellectual property, ''[[Borderlands (video game)|Borderlands]]'', began around 2005 and was first announced in 2007.<ref name="gamespot art shift">{{cite web|url=http://www.gamespot.com/articles/behind-borderlands-11th-hour-style-change/1100-6253257/|title=Behind Borderlands' 11th-hour style change|author=Tor Thorsen|website=GameSpot|access-date=October 13, 2014|archive-url=https://web.archive.org/web/20141008153551/http://www.gamespot.com/articles/behind-borderlands-11th-hour-style-change/1100-6253257/|archive-date=October 8, 2014|url-status=live}}</ref><ref name="kotaku blands announce"/> Pitchford likened the game as a combination of [[computer role-playing games]] such as ''[[Diablo (video game)|Diablo]]'' and ''[[NetHack]]'', and first-person shooters like ''Duke Nukem''.<ref name="glixel">{{cite web | url = http://www.glixel.com/interviews/randy-pitchford-on-switch-overwatch-and-being-fearless-w462836 | title = Gearbox Software's Randy Pitchford Talks Nintendo Switch, 'Overwatch' and Being Fearless | first = Matthew | last = Walden | date = January 25, 2017 | access-date = January 25, 2017 | website = [[Glixel]] | archive-url = https://web.archive.org/web/20170125214649/http://www.glixel.com/interviews/randy-pitchford-on-switch-overwatch-and-being-fearless-w462836 | archive-date = January 25, 2017 | url-status = live | df = mdy-all}}</ref> Defining features of ''Borderlands'' was its outlined graphical style and its procedurally-generated loot system that was capable of generating millions of different guns and other gear items.<ref>{{cite web|url=http://multiplayerblog.mtv.com/2009/07/28/borderlands-has-3166880-different-weapons|title='Borderlands' Has 3,166,880 Different Weapons|last=Fruhstick|first=Russ|date=July 28, 2009|publisher=MTV Multiplayer|access-date=August 4, 2009|url-status=dead|archive-url=https://web.archive.org/web/20090731095451/http://multiplayerblog.mtv.com/2009/07/28/borderlands-has-3166880-different-weapons|archive-date=July 31, 2009}}</ref> ''Borderlands'' was released in October 2009, published by [[2K (company)|2K]], a subsidiary of [[Take-Two Interactive]]. By August 2011, had sold over 4.5 million copies, making it a critical success for Gearbox and allowing them to expand the studio and budgets for subsequent games.<ref>{{cite web|url=http://www.gamespot.com/news/6327818/take-two-sales-sink-12-in-june-quarter |title=Take-Two sales sink 12% in June quarter |last1=Magrino |first1=Tom |last2=Makuch |first2=Eddie |date=August 8, 2011 |website=[[GameSpot]] |publisher=[[CBS Interactive|CBS Interactive Inc.]] |access-date=August 10, 2011 |url-status=dead |archive-url=https://web.archive.org/web/20110920141214/http://www.gamespot.com/news/6327818/take-two-sales-sink-12-in-june-quarter |archive-date=September 20, 2011}}</ref><ref>{{cite web | url = https://www.eurogamer.net/articles/2012-09-11-how-gearbox-broke-the-bank-for-borderlands-2 | title = How Gearbox broke the bank for Borderlands 2 | first = Wesley | last = Yin-Poole | date = September 14, 2012 | accessdate = June 17, 2021 | website = [[Eurogamer]] | archive-date = July 20, 2019 | archive-url = https://web.archive.org/web/20190720103238/https://www.eurogamer.net/articles/2012-09-11-how-gearbox-broke-the-bank-for-borderlands-2 | url-status = live }}</ref> Subsequently, Gearbox developed two additional games in the [[Borderlands (series)|video game series]], ''[[Borderlands 2]]'' (2012) and ''[[Borderlands 3]]'' (2019), as well as the spin-off title ''[[Tiny Tina's Wonderlands]]'' (2022), and the series has spawn additional games from other studios under 2K/Take-Two or through license, including ''[[Borderlands: The Pre-Sequel]]'' by [[2K Australia]], and ''[[Tales from the Borderlands]]'' from [[Telltale Games]]. Gearbox and Take-Two have also partnered with [[Lionsgate]] to develop a live-action [[Borderlands (film)|''Borderlands'' film]], which was released on August 9, 2024.

In July 2013, Gearbox announced plans to rerelease ''[[Homeworld]]'' and ''[[Homeworld 2]]'' in high definition for modern PC platforms, in addition to making it available through [[Digital distribution|digital distributors]].<ref>{{cite web |last=Pitcher |first=Jenna |url=http://www.polygon.com/2013/7/20/4540132/gearbox-releasing-remakes-of-homeworld-and-homeworld-2-for-windows-pc |title=Gearbox releasing remakes of Homeworld and Homeworld 2 for Windows PC |website=[[Polygon (website)|Polygon]] |publisher=[[Vox Media]] |date=July 20, 2013 |access-date=October 22, 2016 |url-status=live |archive-url=https://web.archive.org/web/20160712064056/http://www.polygon.com/2013/7/20/4540132/gearbox-releasing-remakes-of-homeworld-and-homeworld-2-for-windows-pc |archive-date=July 12, 2016}}.</ref>

In July 2014, Randy Pitchford formally contested the ''[[Aliens: Colonial Marines]]'' class action lawsuit stating the game had cost them millions of their own money and the advertising was solely the fault of the publisher.<ref>{{cite web |url=http://www.pcgamer.com/gearbox-seeks-removal-from-aliens-colonial-marines-class-action-lawsuit/ |title=Gearbox seeks removal from Aliens: Colonial Marines class action lawsuit |first=Andy |last=Chalk |website=[[PC Gamer]] |date=July 31, 2014 |access-date=June 13, 2015 |url-status=live |archive-url=https://web.archive.org/web/20150715225251/http://www.pcgamer.com/gearbox-seeks-removal-from-aliens-colonial-marines-class-action-lawsuit/ |archive-date=July 15, 2015}}</ref>

In December 2015, Gearbox opened a second development studio in [[Quebec City|Quebec City, Canada]].<ref>{{cite web |last=Sarkar |first=Samit |url=http://www.polygon.com/2015/12/11/9893502/gearbox-studio-quebec-city-canada |title=Gearbox opens new studio in Quebec City |website=[[Polygon (website)|Polygon]] |publisher=[[Vox Media]] |date=December 11, 2015 |access-date=October 22, 2016 |url-status=live |archive-url=https://web.archive.org/web/20160808152409/http://www.polygon.com/2015/12/11/9893502/gearbox-studio-quebec-city-canada |archive-date=August 8, 2016}}</ref> The studio is run by Sebastien Caisse and former [[Activision]] art director Pierre-Andre Dery. The team consists of over 100 members and is contributing to the development of original AAA titles.<ref>{{cite web |last=Therrien |first=Yves |title=Nouveau studio de jeux vidéos à Québec: 100 emplois créés(In French) |work=La Presse |url=http://www.lapresse.ca/le-soleil/affaires/techno/201512/11/01-4930195-nouveau-studio-de-jeux-videos-a-quebec-100-emplois-crees.php |publisher=[[La Presse (Canadian newspaper)|La Presse]] |date=December 11, 2015 |access-date=October 22, 2016 |url-status=live |archive-url=https://web.archive.org/web/20160206214441/http://www.lapresse.ca/le-soleil/affaires/techno/201512/11/01-4930195-nouveau-studio-de-jeux-videos-a-quebec-100-emplois-crees.php |archive-date=February 6, 2016}}</ref>

===Restructuring and acquisition by Embracer Group (2015–2024)===
Gearbox established Gearbox Publishing in 2015, first announced to the public in December 2016, as to publish third-party games, starting with the remastered version of ''[[Bulletstorm]]'' from [[People Can Fly]].<ref>{{cite magazine |url=https://www.gameinformer.com/b/features/archive/2018/04/17/how-gearbox-evolved-from-developer-to-publisher-in-three-years.aspx |title=How Gearbox Evolved From Developer To Publisher In Three Years |first=Robbie |last=Key |date=April 17, 2018 |magazine=[[Game Informer]] |access-date=February 4, 2021 |archive-date=November 4, 2022 |archive-url=https://web.archive.org/web/20221104020100/https://www.gameinformer.com/b/features/archive/2018/04/17/how-gearbox-evolved-from-developer-to-publisher-in-three-years.aspx |url-status=live }}</ref><ref>{{cite web | url = https://www.polygon.com/2016/12/1/13814504/bulletstorm-remaster-release-date-pre-order | title = Bulletstorm remaster on the way from People Can Fly | first = Charlie | last = Hall | date = December 1, 2016 | access-date = February 3, 2021 | website = [[Polygon (website)|Polygon]] | archive-date = September 25, 2021 | archive-url = https://web.archive.org/web/20210925222812/https://www.polygon.com/2016/12/1/13814504/bulletstorm-remaster-release-date-pre-order | url-status = live }}</ref> Pitchford said that they wanted to start expanding into other areas of capital growth beyond games that Gearbox was traditionally known for, and planned to use Gearbox Publishing as a starting point.<ref name="vb gearbox embracer interview">{{cite web | url = https://venturebeat.com/2021/02/03/randy-pitchford-the-magic-behind-gearboxs-merger-with-embracer-group/ | title = Randy Pitchford: The magic behind Gearbox's merger with Embracer Group | first = Dean | last = Takahashi | date = February 3, 2021 | access-date = February 3, 2021 | website = [[Venture Beat]] }}</ref> Later, in May 2019, Gearbox established The Gearbox Entertainment Company, Inc. (Gearbox Entertainment) as a parent company for both Gearbox Software and Gearbox Publishing.<ref>{{cite web |url=https://opencorporates.com/companies/us_tx/0803307675 |title=THE GEARBOX ENTERTAINMENT COMPANY, INC. |website=[[OpenCorporates]] |access-date=February 2, 2021 |archive-date=November 4, 2022 |archive-url=https://web.archive.org/web/20221104020058/https://opencorporates.com/companies/us_tx/0803307675 |url-status=live }}</ref><ref name="poly embracer">{{cite web | url = https://www.polygon.com/2021/2/3/22264080/gearbox-software-acquired-embracer-group-thq-nordic | title = Borderlands developer Gearbox acquired by Embracer Group in $1.3B deal | first = Michael | last = McWhertor | date = February 3, 2021 | access-date = February 3, 2021 | website = [[Polygon (website)|Polygon]] | archive-date = February 3, 2021 | archive-url = https://web.archive.org/web/20210203145406/https://www.polygon.com/2021/2/3/22264080/gearbox-software-acquired-embracer-group-thq-nordic | url-status = live }}</ref>

Co-founder Landon Montgomery, who had left the company around 2007, died on March 25, 2020.<ref>{{cite web | url = https://www.gamespot.com/articles/gearbox-co-founder-passes-away-tributes-pour-in-fr/1100-6475240/ | title = Gearbox Co-Founder Passes Away, Tributes Pour In From Around The World | first = Olivia | last = Harris | date = March 25, 2020 | access-date = March 25, 2020 | website = [[GameSpot]] | archive-date = March 26, 2020 | archive-url = https://web.archive.org/web/20200326015034/https://www.gamespot.com/articles/gearbox-co-founder-passes-away-tributes-pour-in-fr/1100-6475240/ | url-status = live }}</ref>

In April 2021, Gearbox Entertainment was wholly acquired by the [[Embracer Group]] for precisely $363 million rising to $1,378 million should they reach specific operational targets. This addition would be the company's seventh major publishing group.<ref>{{cite web | url = https://venturebeat.com/2021/02/02/embracer-group-acquires-borderlands-maker-gearbox-entertainment-for-1-3-billion/ | title = Embracer Group acquires Borderlands maker Gearbox Entertainment for $1.3 billion | first = Dean | last = Takahashi | date = February 2, 2021 | access-date = February 2, 2021 | website = [[Venture Beat]] | archive-date = February 3, 2021 | archive-url = https://web.archive.org/web/20210203212853/https://venturebeat.com/2021/02/02/embracer-group-acquires-borderlands-maker-gearbox-entertainment-for-1-3-billion/ | url-status = live }}</ref><ref name="poly embracer"/><ref>{{cite web | url = https://www.gematsu.com/2021/04/embracer-group-completes-merger-with-the-gearbox-entertainment-company | title = Embracer Group completes merger with The Gearbox Entertainment Company | first = Sal | last = Romero | date = April 6, 2021 | accessdate = April 6, 2021 | website = Gematsu | archive-date = April 6, 2021 | archive-url = https://web.archive.org/web/20210406181409/https://www.gematsu.com/2021/04/embracer-group-completes-merger-with-the-gearbox-entertainment-company | url-status = live }}</ref> Pitchford stated that while they were looking to raise capital from 2016, they came to meet with Embracer, and saw that their decentralized studio model would work well for Gearbox.<ref name="vb gearbox embracer interview"/> 2K remained on Gearbox's board and continued to publish the ''Borderlands'' series.<ref name="acquired">{{cite web | url = https://www.gamespot.com/articles/borderlands-studio-gearbox-acquired-by-embracer-group-for-up-to-13-billion-2k-remains-on-board/1100-6487054/ | title = Borderlands Studio Gearbox Acquired By Embracer Group For Up To $1.3 Billion, 2K Remains On Board | first = Eddie | last = Makuch | date = February 3, 2021 | access-date = February 3, 2021 | website = [[GameSpot]] | archive-date = February 3, 2021 | archive-url = https://web.archive.org/web/20210203140138/https://www.gamespot.com/articles/borderlands-studio-gearbox-acquired-by-embracer-group-for-up-to-13-billion-2k-remains-on-board/1100-6487054/ | url-status = live }}</ref>

Gearbox Entertainment opened a second Canadian studio, Gearbox Studio Montreal, in August 2021, to support 250 new staff, bringing the total size of Gearbox to around 850 employees.<ref name="montreal">{{cite web | url = https://www.gamespot.com/articles/gearbox-opens-new-office-in-montreal-to-create-groundbreaking-entertainment/1100-6495608/ | title = Gearbox Opens New Office In Montreal To Create "Groundbreaking Entertainment" | first = Eddie | last = Makuch | date = August 26, 2021 | accessdate = August 26, 2021 | website = [[GameSpot]] | archive-date = August 26, 2021 | archive-url = https://web.archive.org/web/20210826130519/https://www.gamespot.com/articles/gearbox-opens-new-office-in-montreal-to-create-groundbreaking-entertainment/1100-6495608/ | url-status = live }}</ref>

Gearbox announced the formation of Gearbox Studios as a third company under the Gearbox Entertainment Company on October 6, 2021, to oversee television and film productions, with Pitchford serving as Gearbox Studios president alongside as president and CEO of the parent company. Former CTO Steve Jones was named as president of Gearbox Software in Pitchford's place.<ref name="ign oct21 reorg">{{cite web | url = https://www.ign.com/articles/gearbox-software-new-president-steve-jones-randy-pitchford | title = Gearbox's Randy Pitchford Steps Down As Gearbox Software President | first = Matt | last = Kim | date = October 6, 2021 | accessdate = October 6, 2021 | work = [[IGN]] | archive-date = October 6, 2021 | archive-url = https://web.archive.org/web/20211006223326/https://www.ign.com/articles/gearbox-software-new-president-steve-jones-randy-pitchford | url-status = live }}</ref> Embracer announced it intent to acquire Perfect World Entertainment in December 2021 and placing the group, including its publishing arm and [[Cryptic Studios]], under the Gearbox Entertainment operating group.<ref name="perfect world">{{cite press release | url = https://embracer.com/release/embracer-group-enters-into-agreement-to-acquire-perfect-world-entertainment/ | title = Embracer Group Enters Into Agreement To Acquire Perfect World Entertainment | date = December 21, 2021 | accessdate = December 21, 2021 | publisher = [[Embracer Group]] | archive-date = December 21, 2021 | archive-url = https://web.archive.org/web/20211221071959/https://embracer.com/release/embracer-group-enters-into-agreement-to-acquire-perfect-world-entertainment/ | url-status = live }}</ref> Following its acquisition in April 2022, Perfect World Entertainment was rebranded as Gearbox Publishing San Francisco, with the naming to be applied retroactively to past games published under [[Perfect World (company)|Perfect World]].<ref>{{cite web | url = https://www.gamedeveloper.com/business/perfect-world-rebrands-as-gearbox-publishing-after-embracer-purchase | title = Perfect World rebrands as Gearbox Publishing after Embracer purchase | first = Chris | last = Kerr | date = April 22, 2022 | accessdate = April 22, 2022 | work = [[Game Developer (website)|Game Developer]] | archive-date = December 5, 2022 | archive-url = https://web.archive.org/web/20221205222853/https://www.gamedeveloper.com/business/perfect-world-rebrands-as-gearbox-publishing-after-embracer-purchase | url-status = live }}</ref>

In April 2022, Gearbox Entertainment announced it will acquire Lost Boys Interactive, which had supported Gearbox in ''[[Tiny Tina's Wonderlands]]''.<ref name="gearbox lostboys">{{cite web | url = https://www.gamesindustry.biz/articles/2022-04-21-gearbox-to-acquire-tiny-tina-co-developer-lost-boys-interactive | title = Gearbox to acquire Tiny Tina co-developer Lost Boys Interactive | first = James | last = Batchelor | date = April 21, 2022 | accessdate = April 21, 2022 | work = [[GamesIndustry.biz]] | archive-date = April 21, 2022 | archive-url = https://web.archive.org/web/20220421101706/https://www.gamesindustry.biz/articles/2022-04-21-gearbox-to-acquire-tiny-tina-co-developer-lost-boys-interactive | url-status = live }}</ref> Later that November, Gearbox acquired the ''[[Risk of Rain]]'' IP from Hopoo Games, while Embracer transferred ownership of [[Volition (company)|Volition]] to Gearbox Entertainment from Deep Silver following poor reception to its ''Saint's Row'' reboot. The studio would later shut down the following year due to the restructuring of Embracer Group.<ref>{{cite web | url = https://www.eurogamer.net/gearbox-acquires-risk-of-rain-ip | title = Gearbox acquires Risk of Rain IP | first = Matt | last = Wales | date = November 17, 2022 | accessdate = November 17, 2022 | work = [[Eurogamer]] | archive-date = November 18, 2022 | archive-url = https://web.archive.org/web/20221118002228/https://www.eurogamer.net/gearbox-acquires-risk-of-rain-ip | url-status = live }}</ref><ref>{{cite web | url = https://www.videogameschronicle.com/news/volition-will-become-part-of-gearbox-after-disappointing-reception-to-saints-row/ | title = Volition will become part of Gearbox after disappointing reception to Saints Row | first = Chris | last = Scullion | date = November 17, 2022 | accessdate = November 17, 2022 | work = [[Video Games Chronicle]] | archive-date = November 17, 2022 | archive-url = https://web.archive.org/web/20221117174203/https://www.videogameschronicle.com/news/volition-will-become-part-of-gearbox-after-disappointing-reception-to-saints-row/ | url-status = live }}</ref> That same month, [[Eidos Interactive|Eidos]] Shanghai, another studio under the Embracer Group, was transferred to Gearbox Publishing San Francisco and rebranded as Gearbox Studio Shanghai.<ref>{{cite web | url = https://www.gamesindustry.biz/eidos-shanghai-becomes-gearbox-shanghai | title = Eidos Shanghai becomes Gearbox Shanghai | first = Brendan | last = Sinclair | date = November 15, 2022 | accessdate = November 17, 2022 | work = [[GamesIndustry.biz]] | archive-date = November 15, 2022 | archive-url = https://web.archive.org/web/20221115151558/https://www.gamesindustry.biz/eidos-shanghai-becomes-gearbox-shanghai | url-status = live }}</ref> 

Gearbox Entertainment acquired Captured Dimensions, a 3D modeling company from Texas, in January 2023.<ref>{{cite web |last=Rosseau |first=Jeffery |date=January 4, 2023 |title=Gearbox snags Captured Dimensions |url=https://www.gamesindustry.biz/gearbox-snags-captured-dimensions |accessdate=January 5, 2023 |work=GamesIndustry.biz |archive-date=January 6, 2023 |archive-url=https://web.archive.org/web/20230106013609/https://www.gamesindustry.biz/gearbox-snags-captured-dimensions |url-status=live }}</ref> Later in the month, Gearbox laid off a sizeable portion of the staff at Lost Boys Interactive.<ref>{{Cite web |last=Grayson |first=Nathan |date=2024-01-12 |title=Employees Say 'Sizable Portion' Of Gearbox-Owned Studio Has Been Laid Off - Aftermath |url=https://aftermath.site/employees-say-sizable-portion-of-gearbox-owned-studio-has-been-laid-off |access-date=2024-03-04 |website=aftermath.site |language=en |archive-date=March 4, 2024 |archive-url=https://web.archive.org/web/20240304010224/https://aftermath.site/employees-say-sizable-portion-of-gearbox-owned-studio-has-been-laid-off |url-status=live }}</ref> According to a Washington state [[Worker Adjustment and Retraining Notification Act of 1988|WARN notice]], 125 employees lost their jobs.<ref>{{Cite web |last= |first= |title=Lost Boys Interactive, LLC - Layoffs/Closings |url=https://data.fosters.com/see-which-companies-announced-mass-layoffs-closings/lost-boys-interactive-llc-or-large-layoff-10-or-more-workers/or-08708/ |access-date=2024-03-04 |website=Foster's Daily Democrat |language=en |archive-date=March 4, 2024 |archive-url=https://web.archive.org/web/20240304010225/https://data.fosters.com/see-which-companies-announced-mass-layoffs-closings/lost-boys-interactive-llc-or-large-layoff-10-or-more-workers/or-08708/ |url-status=live }}</ref>

=== Acquisition by Take-Two Interactive (2024–present) ===
[[Take-Two Interactive]] announced its plans to acquire Gearbox Entertainment and its intellectual properties from Embracer Group for $460 million on March 28, 2024, to be added under the [[2K (company)|2K]] label. The acquisition also includes Gearbox Software with its satellite studios and Gearbox Publishing.<ref>{{Cite web |last=Valentine |first=Rebekah |date=2024-03-28 |title=Take-Two Buys Gearbox From Embracer, Confirms Development on New Borderlands Game |url=https://www.ign.com/articles/take-two-buys-gearbox-from-embracer-confirms-development-on-new-borderlands-game |access-date=2024-03-28 |website=IGN |language=en |archive-date=March 28, 2024 |archive-url=https://web.archive.org/web/20240328061535/https://www.ign.com/articles/take-two-buys-gearbox-from-embracer-confirms-development-on-new-borderlands-game |url-status=live }}</ref> Embracer will retain Gearbox San Francisco, Gearbox Shanghai, Lost Boys Interactive, Captured Dimensions, and Cryptic Studios, along with publishing rights to ''[[Remnant: From the Ashes|Remnant]]'', ''[[Hyper Light Breaker]]'', and other unannounced titles.<ref name=":0">{{Cite web |date=2024-03-28 |title=Take-Two Interactive Software, Inc. to Acquire The Gearbox Entertainment Company Inc., Developer of Highly Successful Borderlands Franchise |url=https://finance.yahoo.com/news/two-interactive-software-inc-acquire-034000260.html |access-date=2024-03-28 |website=Yahoo Finance |language=en-US |archive-date=March 28, 2024 |archive-url=https://web.archive.org/web/20240328065536/https://finance.yahoo.com/news/two-interactive-software-inc-acquire-034000260.html |url-status=live }}</ref> Less than a day after the announcement, it was reported that an unknown number of employees were laid off from Gearbox.<ref>{{Cite web |last=Ferdinand |first=Pam K. |date=2024-03-29 |title=Gearbox Hit With Layoffs Hours After Embracer Sale Announcement |url=https://gamerant.com/gearbox-layoffs-after-take-two-acquisition/ |access-date=2024-03-31 |website=Game Rant |language=en |archive-date=March 29, 2024 |archive-url=https://web.archive.org/web/20240329094217/https://gamerant.com/gearbox-layoffs-after-take-two-acquisition/ |url-status=live }}</ref> On June 12, 2024, Take-Two Interactive closed the Gearbox Software transaction.<ref name=":1" /><ref name=":2" />