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Take-Two Interactive Software | 8-K: Current report

SEC announcement ·  Mar 28 06:14
Summary by Moomoo AI
On March 27, 2024, Take-Two Interactive Software, Inc. (NASDAQ: TTWO) announced a definitive agreement to acquire The Gearbox Entertainment Company Inc. from Embracer Group AB for $460 million, payable entirely in newly issued Take-Two common stock. The acquisition, expected to close in the first quarter of Take-Two’s Fiscal Year 2025, will add Gearbox’s portfolio of intellectual property to Take-Two’s holdings, including the Borderlands and Tiny Tina’s Wonderlands franchises. Gearbox, known for its development of industry-defining entertainment experiences, is currently working on six key projects, including sequels to Borderlands and Homeworld, and at least one new IP. The transaction, which is subject to customary closing conditions and regulatory approvals, excludes certain non-core third-party publishing...Show More
On March 27, 2024, Take-Two Interactive Software, Inc. (NASDAQ: TTWO) announced a definitive agreement to acquire The Gearbox Entertainment Company Inc. from Embracer Group AB for $460 million, payable entirely in newly issued Take-Two common stock. The acquisition, expected to close in the first quarter of Take-Two’s Fiscal Year 2025, will add Gearbox’s portfolio of intellectual property to Take-Two’s holdings, including the Borderlands and Tiny Tina’s Wonderlands franchises. Gearbox, known for its development of industry-defining entertainment experiences, is currently working on six key projects, including sequels to Borderlands and Homeworld, and at least one new IP. The transaction, which is subject to customary closing conditions and regulatory approvals, excludes certain non-core third-party publishing and other assets. Take-Two anticipates that the acquisition will deepen its relationship with Gearbox and provide increased financial benefits. Gearbox will operate within 2K, a Take-Two subsidiary, and will continue to be led by Founder and CEO Randy Pitchford. The acquisition is seen as a strategic move to strengthen Take-Two’s creative talent and IP portfolio, with management expressing excitement for future collaborative projects.

This announcement is a separate document:

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