Gearbox announces acquisition of Lost Boys Interactive

Gearbox Entertainment Company announced on Thursday that it will acquire Lost Boys Interactive, an independent game studio that most recently provided co-development support on Gearbox Software’s Tiny Tina’s Wonderlands. According to the press release announcing the acquisition, Lost Boys will operate as a subsidiary of Gearbox–the latter of which was acquired by Embracer Group in 2021.

Gearbox CEO Randy Pitchford spoke fondly of Lost Boys, and expressed optimism toward the deal. 

“Lost Boys is an incredible studio with industry-leading talent that [continues] to push the bar higher for what gamers expect from their favorite franchises,” said Pitchford in a statement. “I am […] eager to empower this amazing team to provide their world-class development services to partners and allies throughout the larger game industry.”

Lost Boys was founded in 2017 by game industry veterans Shaun Nivens, Mark Stefanowicz, and Rod Runnheim. Since the studio’s formation, it has worked with a variety of high-profile partners. In addition to its work on Tiny Tina’s Wonderlands, the developer has also contributed to titles like Call of Duty Online and PUBG: Battlegrounds. According to Gearbox, the company “will continue to operate independently under Gearbox Entertainment while working in tandem with Gearbox on full development projects.”

Throughout the past five years, Lost Boys has grown to employ over 220 people, which Gearbox says will push its total global headcount to roughly 1,300. The newly-acquired developer is also looking to expand its workforce by a wide margin, targeting 350 employees by 2024. 

Lost Boys CEO Shaun Nivens spoke optimistically of the deal. “We’re incredibly excited to join Gearbox and continue doing what we do best – making amazing games that entertain and inspire others.”

This acquisition wasn’t the only move pulled by Gearbox this week. At PAX East 2022, the company announced a sequel to the critically acclaimed Tales from the Borderlands, which is a spinoff of Gearbox’s successful Borderlands series of shooters. Additionally, Perfect World Entertainment–the publisher behind games like Remnant: From the Ashes and Torchlight III–announced it would adopt the “Gearbox” name and rebrand to “Gearbox Publishing.” Prior to its rebranding, Perfect World Entertainment, much like Gearbox, was acquired by Embracer Group in late 2021.