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Bankrupt THQ has been Disolved and Sold

Today, THQ was officially sold and auctioned off.

The company’s assets have been divided and sold off, though the deal is pending approval. Here is a breakdown of who purchased what:

– Sega agreed to purchase Relic
– Koch Media agreed to purchase Volition and Metro
– Crytek agreed to purchase Homefront
– Take 2 agreed purchase Evolve and
– Ubisoft agreed to purchase Montreal and South Park

The bankruptcy court still has to approve the sale, but THQ seems confident it will proceed, saying sales are expected to close this week.

The company’s publishing business, along with Darksiders developers Vigil, will remain with THQ during the bankruptcy proceedings. The company stated that it will attempt to find buyers at a later date.

THQ stated in a letter to their employees who worked at the companies that were sold off that they could be offered positions by the new management, but those jobs are not guaranteed. Nearly everyone else has been laid off, aside from a small crew who will help the company ‘transition.’

“The work that you all have done as part of the THQ family is imaginative, creative, artistic and highly valued by our loyal gamers,” stated CEO Brian Farrell in the letter to employees, “We are proud of what we have accomplished despite today’s outcome.”

One Response so far.

  1. […] Tecmo Koei Canada is the latest studio facing closure. Several other smaller studios were also recently closed down following the recent dissolution of THQ. […]

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Written by Jason Nason

I've been playing Nintendo all of my life and have had virtually every Nintendo console ever made. I'm a little bit Nintendo-centric but I'll still bring you a helping of other gaming goodness too. You can also Check me out on Miiverse too.