THQ buyout: Where the pieces landed

It’s 2013, and THQ as we know it has left the building. Many of the company’s asssets have been sold off piece by piece, with some interesting buyers snapping up games like Homefront and South Park: The Stick of Truth, and others taking home studios Relic and Volition. We’ve got all the details for you, with more as they are announced.

[img_big]center,9389,2012-05-06/screenlg1.jpg,South Park: The Stick of Truth[/img_big]

Simply put, it was quickly illustrated that the individual separate-asset bids would raise more money than a single buyer for the majority of the THQ company.

At this stage, the official word from THQ, has been explained in a letter sent to employees.

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 and
  • Ubisoft agreed to purchase Montreal and South Park

We expect these sales to close this week.

Unfortunately, that isn’t all of THQ‘s assets – the company’s publishing businesses and Darksiders studio Vigil have not yet found new homes. According to the letter, these are still part of the Chapter 11 bankruptcy case, but the company “will make every effort to find appropriate buyers, if possible.”

At this stage, the fate of THQ employees is in the hands of the new owners – and if there are no new owners, “we regret that your position will end.”

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.

[img_big]center,8018,2012-06-04/40018Multiplayer_4.jpg,Metro: Last Light[/img_big]

While the sales are, technically, yet to be finalised, both Ubisoft and Koch Media have wasted no time in getting the word out about their new acquisitions.

President of Ubisoft Montreal, Yannis Mallat, is crowing over the news.

This deal adds experienced developers to our internal creative teams at a key moment in the cycle of the video game industry.

As well as now holding the eagerly-anticipated tv tie-in South Park: The Stick of Truth (developed at independent studio Obsidian), the purchases also see the publisher’s Canadian operations expand considerably, as THQ Montreal brings with it a new, unannounced IP.

Koch Media on the other hand, has confirmed that it now owns the IP rights to two “dominant and beloved interactive entertainment franchises”. Both Metro and Saints Row are now under the same roof as Dead Island, and developer Volition is thrown in as well.

Geoff Mulligan, COO of Deep Silver, Inc. explains:

These franchises hold a special place in the hearts and minds of anyone who loves exceptional video games. We’re thrilled to usher in a new era for these franchises and are proud to welcome the visionaries and talented forces at Volition on board.

Both South Park and Metro: Last Light were set for release in March 2013 – it is not yet known if these dates will be affected by the changes.

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