Summary
Former Annapurna Interactive employees have acquired Private Division, a studio previously under Take-Two Interactive's ownership. This follows the departure of most Annapurna Interactive staff in September 2024 after negotiations with Annapurna Pictures CEO Megan Ellison failed.
Annapurna Interactive, known for publishing acclaimed games like Stray, Kentucky Route Zero, and What Remains of Edith Finch, experienced a significant restructuring in 2024. Private Division, established in 2017, was sold by Take-Two Interactive in November 2024, resulting in widespread layoffs. The buyer remained unannounced until now.
According to journalist Jason Schreier, Haveli Investments, an Austin-based private equity firm, purchased Private Division. Haveli reportedly partnered with the former Annapurna staff to manage Private Division's existing projects, including Tales of the Shire (slated for March 2025), the Kerbal Space Program franchise, and an unannounced title from Game Freak.
Private Division's Transition Reflects Industry Trends
The mass exodus from Annapurna Interactive in September 2024 stemmed from failed negotiations with CEO Megan Ellison. While Haveli's acquisition retained roughly twenty Private Division employees, some are expected to be let go to accommodate the incoming Annapurna team. The future plans of the combined entity, including potential new IP or projects, remain undisclosed, as does the studio's new name and overall direction.
This merger underscores the current state of the gaming industry, characterized by widespread layoffs and studio closures in recent years. The integration of two groups of previously laid-off employees reflects the industry's increasingly aggressive approach, driven by investor hesitancy towards high-risk, large-scale projects.
