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THQ Chopped up and sold for parts

Started by Drewan
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Posting this as maybe some people might be interested.

So title is as it says, they held the official auction today for the parts and resources of the company THQ, here are the results.

Quote:Relic Entertainment
Makers of Company of Heroes
Winning bidder: Sega, $26.6 million.
Runner-up: Zenimax Media, $26.3 million.

THQ Montreal
Makers of 1666 and Underdog, titles under development.
Winning bidder: Ubisoft, $2.5 million. No runner-up.

(title in development at Turtle Rock Studios)
Winning bidder: Take-Two Interactive, $10.894 million.
Runner-up: Turtle Rock Studios, $250,000.

Volition, Inc.
Maker of Saints Row
Winning bidder: Koch Media, $22,312,925.
Runner-up: Ubisoft, $5.4 million.

Released 2011; due for a sequel.
Winning bidder: Crytek. $544,218.
No runner-up.

Series; due for the sequel Metro: Last Light.
Winning Bidder: Koch Media, $5,877,551
Runner-up: Ubisoft: $5.175 million.

South Park
License; South Park: The Stick of Truth is due for release March 5.
Winning bidder: Ubisoft, $3,265,306
No runner-up.

Quote:To All THQ Employees:

We now have the answers we've been seeking through our financial restructuring and
Chapter 11 case. While much will be written, here are the facts of the bids and auction
that occurred:

Yesterday morning, we received a competing bid for the operating business,
along with Clearlake's offer, and numerous offers for separate assets.
During an auction process that lasted over 22 hours, the final conclusion was
that the separate-asset bids would net more than a single buyer for the majority
of the company.

Shortly, we will, present the results to the U.S. Bankruptcy Court, which must
concur with our assessment.

The proposed sales of multiple assets is as follows :

Sega agreed to purchase Relic
Koch Media agreed to purchase Volition and Metro
Crytek agreed to purchase Homefront
Take 2 agreed purchase Evolve [Nirolak's Note: Turtle Rock of Left 4 Dead fame's game] and
Ubisoft agreed to purchase Montreal [Nirolak's Note: Patrice's game and perhaps Volition Montreal] and South Park
We expect these sales to close this week.
[Nirolak's Note: Vigil didn't make it.]

Some assets, including our publishing businesses and Vigil, along with some other
intellectual properties are not included in the sale agreements. They will remain part of
the Chapter 11 case. We will make every effort to find appropriate buyers, if possible.

What this means for employees

We expect that most employees of the entities included in the sale will be offered
employment by the new owners. However, we cannot say what these owners may
intend, and there will likely be some positions that will not be needed under the
new ownership. You should receive notice this week or early next week if the new
owners intend to extend employment to you. Please note that the terms of your new
employment, including pay and benefits, may be different from the current terms of
your employment with THQ.

If you are an employee of an entity that is not included in the sale, we regret that
your position will end. A small number of our headquarters staff will continue to be
employed by THQ beyond January 25 to assist with the transition. THQ has sufficient
resources to pay these employees for work going forward, and we will be contacting
these employees immediately to ensure their continued employment during this
transition period. We are requesting the ability to offer certain severance pay to
minimize disruption for employees of non-included entities as they determine the next
steps in their careers.

We know you will have many questions about this news. We'll be meeting tomorrow
when we return to talk through this announcement and to answer any questions you
have. You will receive a benefits fact sheet and FAQs with answers to some questions
that may be on your mind. Please review these materials closely.

A personal note

The work that you all have done as part of the THQ family is imaginative, creative,
artistic and highly valued by our loyal gamers. We are proud of what we have
accomplished despite today's outcome.

It has been our privilege to work alongside the entire THQ team. While the company
will cease to exist, we are heartened that the majority of our studios and games will
continue under new ownership. We were hoping that the entire company would remain
intact, but we expect to hear good news from each of the separate entities that will be
operating as part of new organizations.

For those THQ employees who are part of entities that are not included in the sale, we
are confident that the talent you have displayed as part of THQ will be recognized as you
take the next steps in your career.

Thank you all for your dedication and for sharing your talent with the THQ team. We
wish you the best of luck and hope you will keep in touch.


Brian Farrell
Chief Executive Officer

Jason Rubin

Now my opinions on this, I'm kinda sad, THQ were a good group
Though I'm kinda glad Relic is with Sega as now all Warhammer IP's (Fantasy and 40k) are under one roof, and we already know sega is getting creative assembly to make a warhammer fantasy game, so hopefully new 40k ones as well.

Really hope Vigil strays alive, really want a darksiders 3

Throren Stormblade
Thane of Clan Stormblade
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Post #26206

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I want DMO...

THQ was a great Company but their investments into the Uplay really sent them down hill, hopefully I will see Dawn of War 3.

God-Emperor? Calling him a god was how all this mess started.
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Post #26212

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its a sad part. THQ was a company that got a lot of good reputation with both the consumers and the developers.
Im not sure on Sega. Relic is the Company under THQ that i like the most and i admire their dawn of war games.

Sega can be pushy. and the last thing i want is a warhammer game that gets ruined by beeing rushed out too fast.
I definitly want to see a proper Dawn of War 3 happening.
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Post #26229

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I like Sega, they published some great Total War games and with Creative Assembly now getting the license to produce Warhammer Fantasy games I think they could make a lethal combo, I don't know if the rights to 40k fall to Sega but having the CoH rights will give them a big fanbase.

God-Emperor? Calling him a god was how all this mess started.
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