Executive Summary
Following a breakdown in negotiations with Annapurna Pictures CEO Megan Ellison, the majority of Annapurna Interactive's staff departed in September 2024. These former employees have subsequently acquired the operational reins of Private Division, a studio previously under Take-Two Interactive's ownership.
The acquisition of Private Division, sold by Take-Two in November 2024, reportedly involved Austin-based private equity firm Haveli Investments. This deal secures the future of Private Division's existing titles, including the anticipated Tales of the Shire (March 2025), Kerbal Space Program, and an unannounced Game Freak project.
Private Division's Transition Reflects Industry Trends
The restructuring at Private Division underscores broader industry challenges. While Haveli's purchase saved approximately twenty jobs, further layoffs are anticipated as the Annapurna team integrates. The new entity's name, long-term strategy, and potential for new IP remain undisclosed. This acquisition mirrors a wider trend of significant job losses and studio closures within the gaming sector, driven by investor hesitancy towards large-scale, high-risk projects. The merging of two groups of previously laid-off employees symbolizes this evolving, often ruthless, industry landscape.
