Editing Gearbox Software (section)

===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>