THQ decides to sell individual assets to Crytek, Sega, others

By on January 24, 2013, 7:30 AM

Late last year it was revealed that THQ had filed for chapter 11 bankruptcy protection, reportedly entering into a stalking horse bid with investment firm Clearlake Capital Group shortly after. We have now learned the fate of the games company: they will be broken apart and sold to various competitors.

A letter sent to THQ employees from CEO Brian Farrell and President Jason Rubin said the company considered the original stalking horse bid from Clearlake Capital Group as well as individual offers for the rights to various franchises. Ultimately THQ decided on the latter as it would net more than a single buyer for the majority of the company.

At this hour, we know that THQ has made the following deals:

  • Crytek will take over the Homefront franchise
  • Koch Media will buy Volition (of Saint's Row fame) and Metro: Last Light assets
  • Sega will purchase Relic, known for Company of Heroes and Warhammer 40K
  • Take 2 will buy the "Evolve" assets
  • Ubisoft will obtain THQ Montreal and South Park assets

Sales of the above assets must still be cleared by bankruptcy court, although THQ appears confident that most of the deals will close by the end of the week. Most employees have been laid off although it’s possible that the new owners could rehire some of the staffers.

Vigil, the developers behind Darksiders, will remain with THQ alongside the company’s publishing business through the bankruptcy proceedings. The plan is to find a buyer for these assets at a later date.

User Comments: 6

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Burty117 Burty117, TechSpot Chancellor, said:

If this affects Company of Heroes 2 I will be very, no, extremely upset.

I even pre-purchased the game!

I haven't done that since Crysis 2...

ghasmanjr ghasmanjr said:

Who in the hell is Koch Media? I was really hoping Crytek was going to take over Metro, but now it's a company out of left field. Maybe they can finally make a name for themselves, or they'll kill a series.

treeski treeski said:

Bummed that Sega ended up with the 40k series

Littleczr Littleczr said:

I see THQ from the freeway, from time to time when I come from work. Wonder what's going to happened from that building. When I used to work at Fry's electronics dudes would mention that they will go work for THQ as a game tester. I was never a big fan of their games.

Wonder what THQ did wrong.

Ranger1st Ranger1st said:

Crytek took the easy one too, you can't make Homefront worse then it was..

Maybe Sega can kick Relic's ass and make them a good, innovative company again, warhammer series was becoming a serious joke. Last thing they did really well was their very fist game Homeworld.. after that it was a downhill slide then off a steep cliff into Lions bay.

UBI's involvement in anything is like Uwe Boll's involvement in ANY movie production..

St1ckM4n St1ckM4n said:

I don't exactly know THQ's history, but here are my thoughts:

- Saints Row 2 & 3 failed. Where 1 was on-par with the GTA series, #2 was supposed to overtake - bit it failed horribly and their PC port even worse.

- Warhammer 40K - rehash, rehash everywhere.

- Have a look at their games list. It's rehashes and games based on real-life. There's only a handful of really great standout games.

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