The publisher will own the Borderlands, Tiny Tina's Wonderlands, Homeworld, Risk of Rain, Duke Nukem and Brothers in Arms series.
CEO Randy Pitchford reportedly told employees this week in a town hall that the studio had reached a decision on its future.
Saints Row developer Volition also allegedly had an opportunity to go private, but the deal fell through, per Bloomberg's Jason Schreier.
The PC version of The Lord of the Rings: Return to Moria is available exclusively on the Epic Games Store.
The Embracer Group also confirmed that it has several "unannounced notable titles" to be revealed this fiscal year in its latest report.
Dambuster Studios' hack and slash has become the biggest launch in history for PLAION and Deep Silver within its first seven days.
Gearbox Entertainment CEO Randy Pitchford reveals that the spin-off "shattered all of our target expectations, both critically and commercially."
Giant Bomb's Jeff Grubb says that it's still early but such a conversation had "no possibility to even begin" under Square Enix.
It's currently evaluating a "growing number of potential near-term acquisition targets."
