Gearbox Entertainment, the company behind the successful Borderlands series and Tiny Tina’s Wonderlands spin-off, will be escaping the grasp of its owner Embracer Group.

Gearbox is sold out from under Embracer, who is currently the most-hated game company right now due to the layoffs and shutdowns it’s done with the game companies it bought. A recent press release just published stating that most of Gearbox will be sold to Take-Two Interactive, parent company of 2K Games, for US$460 million. Gearbox will retain the rights to the Borderlands, Homeworld, and Risk of Rain franchises. Meanwhile, Embracer Group retains the publishing rights to the Remnant series and also still owns support studio Lost Boys Interactive.

Gearbox CEO Randy Pitchford said to his employees in a town hall meeting (via Kotaku) that a decision has been made regarding the company’s future, with more info to be shared next month April. The decision? Embracer will sell Gearbox to someone else willing to buy; the deal is being finalized as we speak.

As to what Gearbox has been up to for the past few years? The company has been working on a follow-up to Borderlands 3 and a sequel to Tiny Tina’s Wonderlands which recently went through a soft reboot. The two titles are still being made and are progressing well, but the company has been feeling uncertain about its future following the issues with Embracer.

To recap, Embracer group purchased Gearbox for US$1.3 billion in 2021.