THQ Sold in Pieces to Sega, Koch, Ubisoft and Others

By David Radd

Posted January 24, 2013

The THQ auction has happened and it is confirmed that many of its studios and IP will be split up among various different companies. The bids combined to surpass the $60 million deal that Clearlake Capital Group offered to acquire the whole of the company.

Sega acquired Relic Entertainment, creators of THQ's Company of Heroes and Warhammer 40,000: Dawn of War series, which is certain to compliment their strategy studio The Creative Assembly already working on a Warhammer game. Koch Media (parent company of Deep Silver) picked up Saints Row developer Volition and the rights to Metro, though Ukrainian developer 4A Games remains independent while it works on Metro: Last Light.

Ubisoft will pick up THQ Montreal and the rights to South Park: The Stick of Truth, despite some objections to the sale by South Park Studios. Take-Two acquired the next-gen title Evolve while Crytek acquired the rights to the Homefront sequel they have been developing.

"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. 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,” said THQ CEO Brian Farrell. "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.”


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