Take-Two Interactive Software acquires The Gearbox Entertainment Company
Take-Two Interactive Software, Inc. has announced its definitive agreement to acquire The Gearbox Entertainment Company for $460 million. The Gearbox Entertainment Company is renowned for its offerings, including the iconic Borderlands franchise.
The acquisition will be completed entirely through newly issued shares of Take-Two common stock. The number of shares will be determined based on the average closing price per share on the Nasdaq Global Select Market during the five trading days ending on the day immediately prior to the closing date. The transaction, expected to close during the first quarter of Take-Two’s Fiscal Year 2025 (ending June 30, 2024), is subject to customary closing conditions and regulatory approvals.
Sorry, Microsoft, but Sony has sold more than 50 million PlayStation 5 consoles
Sony has announced a significant achievement in the gaming industry: the PlayStation 5 (PS5) has surpassed 50 million units sold globally since its launch in November 2020! This milestone, reached in just three years, highlights the impressively strong market performance of the PS5. This news is sure to upset Microsoft -- maker of the rival Xbox consoles.
Sony attributes the success of the PS5 to its commitment to innovation and a robust catalog of games that have resonated with players worldwide. Jim Ryan, President and CEO of Sony Interactive Entertainment, says, “Achieving this PS5 sales milestone is a testament to the unwavering support of the global PlayStation community and their passion for the incredible experiences created by the talented developers from PlayStation Studios and our partners.”