For better or worse, New Tales from the Borderlands focuses almost entirely on its new cast of characters. Though this is good news for figures like L0U13, as it allows the adorable robot to receive more character development and get more time to shine, players hoping for answers on some of the series’ many mysteries are out of luck. However, the game does give fans a new mystery to ponder, as a brief cameo from the former Atlas assassin Athena comes with some baggage attached.
As Susan Coldwell gives her big victory speech to an audience of Borderlands CEOs, players see characters closely associated with various brands, with all but one being easily identifiable. While the aptly named Mr. Torgue is a good stand-in for his explosives-obsessed manufacturer, and Katagawa Sr. running Maliwan is a no-brainer, Athena is also one of the people on the video call. This has left New Tales from the Borderlands fans scratching their heads, as they had no idea Athena was an owner of a large company. Though Gearbox will likely reveal which company she has gotten her hands on down the road, it is fun to speculate right now about the brand she has picked up.
Borderlands’ Shield Companies: The Safe Option
Considering that Athena wielded a shield in the cult classic Borderlands: The Pre-Sequel, as well as in her other appearances, it would not be shocking to see her take ownership of a shield company like Pangolin or Anshin. After all, she knows a thing or two about what a good shield looks like, and the almost nonexistent lore about these companies makes them a safe pick. Both could be full of do-gooders with the purely good motive of keeping people alive, which would undoubtedly be important to Athena since she had her life ruined by the original version of Atlas.
However, what makes this seem less likely is that Susan only invites major companies like Torgue, Atlas, and Maliwan to her villainous TED Talk. Something smaller like Pangolin, Anshin, or even her wife Springs’ repair shop like some fans have suggested could be too small to justify an invitation. As such, Athena’s company likely has to be one of the major ones, and Hyperion is the name that makes the most sense.
Borderlands’ Hyperion: The Most Interesting Option
Since the fall of the iconic Borderlands villain Handsome Jack, Hyperion’s stock has likely plummeted in-universe, with many probably not wanting to buy Hyperion products after what Handsome Jack tried to do. This could have led to Hyperion becoming far cheaper, giving Athena a window to purchase the company in hopes of repairing its image. After all, she worked closely with Handsome Jack during the events of Borderlands: The Pre-Sequel, ensuring she has at least some knowledge of Hyperion as a brand.
This has been a popular fan theory since Borderlands 3, as that game added a gimmick for Hyperion weapons that saw each of the company’s guns coming with a built-in shield. As soon as players saw this gimmick, they instantly assumed that Athena was behind it, becoming the new owner of Hyperion between the events of Borderlands 2 and Borderlands 3. However, she did not appear in the game, with almost no new Hyperion lore to take in. Perhaps her appearance in New Tales from the Borderlands is Gearbox approving this fan theory and making it a reality, as Hyperion would absolutely be big enough to warrant Athena being at Susan’s presentation.
Other Possibilities For Athena’s Borderlands Company
With several major companies like Jakobs and Torgue having known owners that were present at the meeting, there are only a few remaining companies that are big enough to make sense. One is the corrupt Dahl Corporation, as Athena could be looking to turn things around for Dahl just like she would surely be striving to do with Hyperion. The other option is Vladof, the Russian-themed brand that has little impact on the story beyond Moze's backstory with the Ursa Corps. Fans do not know who is currently running either company, so Athena could have been representing one of them. Though Hyperion makes the most sense, there are clearly a few options on the table.
New Tales from the Borderlands is available now on PC, PS4, PS5, Switch, Xbox One, and Xbox Series X.