The company announced Friday it has acquired WreckFest, a non-profit organization that provides bikes to the disabled and homeless.
The company said in a news release that WreckWeek, which was founded in 2016, is one of its “most successful” endeavors and was “driven by the passion and dedication of its dedicated team of volunteers.”
“The Wreck Week Team was the catalyst for Wreck Fest’s growth and we are grateful to have the opportunity to continue their legacy of inspiring and engaging the community,” said Jason Ralston, vice president and general manager of Gearbox.
“The team is incredibly talented, passionate, and dedicated to their mission and are the true heart and soul of Wreck.
We look forward to continuing the Wreck program and hope to see you there in person.”
The acquisition is the latest in a string of corporate moves to boost its fortunes, which are down nearly 10% in 2017.
The studio was founded by former GameStop CEO Jason Rubin and co-founders John Carmack and Chris Roberts, who also co-founded id Software.
In 2018, Gearbox announced it had acquired a $400 million stake in the San Francisco-based video game developer Epic Games, which includes titles such as The Order: 1886, Horizon Zero Dawn and a rumored third Gears of War game.
The deal closed the studio’s deal with Epic to make games.