A rough year for THQ found them selling off most of their assets to the likes of Take-Two, Koch Media, Sega and Ubisoft among others.
THQ is currently undergoing Chapter 11 Bankruptcy. In order to continue the publisher must sell off its assets in order to get a little bit of extra cash. Earlier, we reported that Koch Media had officially acquired Volition (Saints Row) and the Metro franchise. Now, it looks like we now know where the rest of THQ’s assets have gone. Purchasing numbers come from Distressed Debt Investing:
- Sega has purchased Relic, the developers of Company of Heroes 2 and the Warhammer 40,000: Dawn of War franchises for $26.6 million.
- Koch Media purchased Volition (Saints Row) for $22.3 million and Metro for $5.8 million.
- Crytek, who is currently developing Homefront 2, but the rights to the franchise for $500,000.
- Take-Two has purchased Turtle Rock Studio’s mysterious Evolve title for $10.8 million.
- Ubisoft purchased the publishing rights to South Park: The Stick of Truth for $3.2 million and THQ Montreal and Patrice Desilet’s project for $2.5 million.
The most notable asset not aquired was Vigil Games, the developers of Darksiders. It is unknown why the studio was not picked up, but there is still time for someone to make an offer. Vigil Games has done fine work on their Darksiders franchise.
“While we had hoped that the restructuring process would allow the company to remain intact, I am heartened that the majority of our studios and games will continue under new ownership,” said THQ CEO Brian Farrell. “It has been my pleasure to work alongside this great group of people, and I am proud of the imaginative and artistic games that our team has created. Although we will no longer be able to work together with a unified mission, I am confident that the talent we have assembled will continue to make an impression on the video game industry. For those whose positions are not likely to continue, I sincerely regret this outcome and we will be meeting with you over the next few days to discuss the transition.”
“I was brought in eight months ago to help turn this ship around, and while I’m disappointed that we could not effect a sale for the entire operating business, I am pleased that the new buyers will be providing jobs to many of our very talented personnel,” added THQ president Jason Rubin. “When we first announced the sale process, I said I would be happy if the company’s games and people had a bright future, even if it meant I did not have a job at the end of it. And I still feel that way.”