Ex-staffers from troubled publisher Annapurna Interactive have entered into an agreement to take over the operations of Private Division, a studio formerly owned by Take-Two Interactive. Before an abrupt shakeup in 2024, Annapurna Interactive was responsible for publishing a number of critically acclaimed titles, including Stray, Kentucky Route Zero, and What Remains of Edith Finch.
Private Division, founded in 2017, was sold by parent company Take-Two Interactive in November 2024. Private Division's buyer remained undisclosed at that time, along with the fate of the studio and its extant titles, but the sale saw the majority of its staff laid off amid larger studio closures and headcount reductions by Take-Two.
According to a report by Jason Schreier, Private Division's buyer is allegedly Austin-based private equity firm Haveli Investments, which invests broadly in the technology and gaming sectors. Haveli and the self-exiled Annapurna staff have reportedly struck a deal to absorb and distribute games still under Private Division's banner, including the expected March 2025 release Tales of the Shire, the long-running Kerbal Space Program, and an unannounced project from Game Freak, the developer and co-owner of Pokemon.
The majority of Annapurna Interactive's staff left its parent company in September 2024 after negotiations with Annapurna Pictures CEO Megan Ellison fell apart. While Haveli's acquisition of Private Division brought around twenty remaining employees, some of those legacy staff will now reportedly be laid off to make way for the incoming Annapurna team. It's as yet unclear if the Annapurna team intends to adopt any novel IP or take on new projects of any kind under its wing. The name and broader mission of the newly formed studio have not yet been identified.
The effective consolidation of Annapurna and Private Division is a clear reflection of the broader games industry and the landslide shift in expectations and practices it's experienced over the past several years, which saw tens of thousands of layoffs and a number of studio closures. One group of gaming employees welcoming another group of discarded gaming employees is a fitting evolution of the take-no-prisoners approach adopted by the industry as a whole, as investors flee from high-profile, large investment projects and the risks they impose.
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