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THQ sell-off official: Here's how much money changed hands
THQ sell-off official: Here's how much money changed hands
January 24, 2013 | By Mike Rose

January 24, 2013 | By Mike Rose
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More: Console/PC, Business/Marketing



The U.S. Bankruptcy Court today approved the sale of the majority of publisher THQ's assets, revealing how much each company paid to get their hands on THQ's studios and IPs.

Yesterday's auction saw THQ chopped up into pieces, with multiple buyers grabbing the most valuable parts.

Sega grabbed Relic (which is working to finish Company of Heroes 2) for $26.6 million, while Koch Media took THQ's Volition studio (Saints Row) and the Metro: Last Light IP for $22.3 million and $5.9 million respectively.

Elsewhere, Crytek paid $500,000 to take the Homefront IP, of which the studio is currently working on a sequel, and Take-Two Interactive grabbed Evolve, currently in development by Turtle Rock Studios, for $10.9 million.

Finally, Ubisoft bought the THQ Montreal studio for $2.5 million, while also grabbing the South Park: The Stick of Truth IP for $3.3 million.

The Bankruptcy Court noted that Vigil Games, along with certain other assets and IPs, was not sold and will remain part of the THQ estate and continue in the Chapter 11 process.

A statement from THQ noted that, while the new owners have not said whether they plan to keep THQ's former employees on at each studio, the company expects that employment will be extend to most of its staffers.

THQ CEO Brian Farrell said that, while we was happy to see that the majority of THQ's studios and games had found new homes, he regretted that that not every employee would have a job elsewhere.

Jason Rubin, THQ's president, added, "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."

"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."


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Comments


Ramin Shokrizade
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It seems like in the end that THQ and it's investors did a lot better after the bankruptcy judge put a halt to that suspicious IP grab that was previously announced.


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