Summary
Former Annapurna Interactive employees have acquired Private Division, a former Take-Two Interactive subsidiary. The acquisition follows a mass exodus from Annapurna Interactive in September 2024 after negotiations with CEO Megan Ellison failed.
Annapurna Interactive, prior to its upheaval, published acclaimed games like Stray, Kentucky Route Zero, and What Remains of Edith Finch. Private Division, established in 2017, was sold by Take-Two Interactive in November 2024, with the buyer and the studio's future initially unknown. The sale resulted in widespread layoffs.
According to Jason Schreier, Haveli Investments, an Austin-based private equity firm, is the undisclosed buyer. Haveli and the former Annapurna staff have reportedly partnered to manage Private Division's portfolio, including Tales of the Shire (March 2025 release), Kerbal Space Program, and an unannounced Game Freak project.
Private Division's Restructuring Reflects Industry Trends
The September 2024 departure of most Annapurna Interactive employees followed a breakdown in talks with Annapurna Pictures' CEO. While Haveli's purchase of Private Division retained roughly twenty employees, further layoffs are anticipated to accommodate the incoming Annapurna team. The new entity's name, direction, and plans for new IP remain unannounced.
This merger mirrors broader industry trends. Recent years have witnessed significant layoffs and studio closures, reflecting investor apprehension towards high-risk, large-scale projects. The absorption of one group of laid-off game developers by another underscores the industry's current competitive landscape.
