trending / - - - - - - - - -

trending / playstation 4 - ni no kuni - halo - wii u - bungie interview - ces top picks - radeon hd 7850 - woods pga tour

THQ Dissolved, Assets Sold to Competitors for $72 Million

/ Jan 24th, 2013 1 Comment

THQ
THQ

THQ

THQ has officially dissolved and the company’s assets have been sold to video game publishers such as Sega and Ubisoft in a bankruptcy auction.

Production studios, game franchises and games in development were bought up by competitors in a closed auction that netted a total of $72 million.

The bidding was full of surprises, as studios were bought by major publishing companies. Many expected EA to use some its cash to clean up at the auctions but that did not happen.

[adsense250itp]Koch Media, home to Dead Island developer Deep Silver, purchased the rights to the Saints Row franchise as well as the game’s Chicago-based developer Volition for $22.2 million. The company also paid $5.9 million to buy the Metro franchise. Metro: Last Light is expected to release in March.

Ubisoft paid $2.5 million for a THQ studio in Montreal. The company behind the Assassin’s Creed series also acquired the rights to new, unannounced IP from the development studio. In addition, Ubisoft purchased the publishing rights to the Obsidian-developed South Park: Stick of Truth for $3.3 million.

Sega won the bidding for the military franchise Company of Heroes. The house that Sonic built spent $26.6 million to purchase the series along with the developer Relic.

The first-person shooter franchise Homefront will now be taken over by developer Crytek, which paid $544,218 to gain control of the shooter series.

South Park: The Stick of Truth

South Park: The Stick of Truth

Take-Two purchased the rights to the new IP Evolve for $10.9 million. The company outbid the game’s own developer, Turtle Rock Studios, for the rights to the game. Not much is known about the game other than it being a co-op shooter.

In an interesting deal, Take-Two, which is home to 2K Sports, also acquired the WWE video game license in a separate agreement outside of the auction process. Terms of the sale are not yet known. It will be interesting to see what happens to the future of WWE games under 2K Games.

Developer Vigil Games, the studio behind Darksiders 2, failed to get any buyers and will be shut down.

It is a sad ending for THQ. The company was founded in 1989 as a toy company before moving onto video games. Despite having many successful games along the way, THQ had several flops. The company filed for Chapter 11 bankruptcy protection in December.

Ryan Bloom

Ryan Bloom

Chief Editor at Gaming Illustrated
Ryan Bloom is a writer and avid gamer from Orange County. He received a B.A. in Communications with a minor in American Studies from California State University, Fullerton in 2010. Follow him on Twitter @BloomsTweets.
Ryan Bloom

tags: , , , , ,

Related Posts

Splatoon

New Releases: Week of 5/24

May 24th, 2015No Comments

Razer Firefly mouse mat

Razer Firefly Mouse Mat is the Coolest Mouse Pad

May 21st, 2015No Comments

Need for Speed Reboot

EA Announces Need for Speed Reboot

May 21st, 2015No Comments

Nintendo World Championships 2015

Where You Can Qualify for the Nintendo World Championships 2015

May 19th, 2015No Comments

  • http://gamingillustrated.com/ Sean W. Gibson

    RIP THQ. I had many fine memories playing great THQ games over the years.

Top Articles

A Field Guide to The Witcher: Wild Hunt May 20th, 2015 at 10:30

Killing Floor 2 Preview: Experimental Mayhem May 6th, 2015 at 7:00

6 Things You Need to Know about Xenoblade Chronicles X Apr 28th, 2015 at 8:00

Splatoon Preview: Nautical Kawaii Apr 7th, 2015 at 8:02

First Impressions: Battlefield: Hardline Mar 17th, 2015 at 7:00

Toren PAX South Preview Feb 18th, 2015 at 7:00

Adventures of Pip PAX South Preview Feb 5th, 2015 at 8:00

Light Fall PAX South Preview Jan 30th, 2015 at 8:30

CES 2015 Preview Dec 17th, 2014 at 8:06

Captain Toad: Treasure Tracker Preview Nov 10th, 2014 at 8:00