Court Sells THQ To Crytek, Take-Two, Ubisoft And Others

THQ’s bankruptcy has been approved by court and the sale of majority of its assets to multiple buyers is now complete.

The Court approved the sales of three of THQ's owned studios and games in development, as well as Evolve, a working title under development at Turtle Rock Studios, Homefront 2, Metro: Last Light and South Park: The Stick of Truth.

Under the terms of the agreements with the successful and approved bidders, the THQ estate will receive approximately $72 million, making the total estimated value of the estate $100 million including certain assets and other intellectual properties which were excluded from the sale.

The Court approved the sale of Relic Studios to Sega Corporation for $26.6 million; the sale of Volition Inc. and Metro: Last Light to Koch Media GmbH for $22.3 million and $5.9 million, respectively; the sale of Homefront 2 to Crytek GmbH for $0.5 million; the sale of Evolve to Take-Two Interactive Software, Inc. for $10.9 million; and the sale of THQ Montreal and South Park: The Stick of Truth to Ubisoft LLC for $2.5 million and $3.3 million, respectively.

Excluded from the sales were the company's publishing businesses, Vigil Games, and certain other assets and intellectual properties, which will remain part of the THQ estate and will continue in the Chapter 11 process.

"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," said Brian Farrell, Chairman and CEO of THQ. "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. 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."

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Comments

uh..

They just released Assassin's Creed 3 and FarCry 3.. Maybe your hate is toward Ubisoft itself which is in France btw.. It's only good news that a renowned developers such as UbiMontreal could polish this game before it comes out.. this way it might not suck as much as the past South Park games..

You sound like your very pro

You sound like your very pro America. Why dont you buy a console soley made of American products to play your games on if every other country is inferior? How dare France not back you in your false war. Freedom fries, lies.......

Did you just say your not

Did you just say your not going to buy something because your money will be going to another country? thats pretty f*cking stupid. Ubisoft have made quite a few brilliant games, THQ have made non and thats all that matters, not which fkin country it comes from. If tomorrow, every country banned the import of products from other countries, life as we know it would be over

you... your retarded aren't

you... your retarded aren't you? steam... is a product Valve is the company behind them.. I could go into about 50 different reasons to prove why your wrong but I think that fact alone that you can't tell the difference between a company and their product is all that's needed

Although i agree with your

Although i agree with your position about steam not meeting this fate i have to say that you're the one who has a lot to learn about companies and products, not the OP. If valve goes down steam will be sold along with half life, portal and other PRODUCTS, just like, say, the PRODUCTS mentioned in this article were all sold to different buyers.

Hmm

I just know for the last 4 months I've been predicting the sale of Steam to a giant I.E. EA-Origin within the next 2 years, I just didn't expect it possibly ending this way!

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