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THQ sells off its assets, says goodbye cruel world

THQ's properties are to be sold off to several other games publishers as the studio finally closes its doors.

THQ's properties are to be sold off to several other games publishers as the studio finally closes its doors.

(Credit: THQ)

A letter sent by THQ CEO Brian Farrell and president Jason Rubin to employees has stated that at least five other publishers will be buying the company's games as it closes its doors, Polygon has reported.

At the hearing held in Delaware overnight, a number of studios acquired some of THQ's hottest properties (PDF):

  • Sega bought subsidiary studio Relic for US$26.6 million, acquiring the Company of Heroes franchise and bringing in some Warhammer veterans

  • Ubisoft bought THQ Montreal for US$2.5 million, which includes 1666 and Underdog, and Sought Park: The Stick of Truth for US$3.3 million

  • Take Two bought the intellectual property for upcoming game Evolve for US$10.9 million, outbidding the game's actual developer, Turtle Rock Studios

  • Koch Media, which owns Deep Silver, bought Volition, including the Saints Row franchise, for US$22.3 million, and the Metro franchise for US$5.9 million

  • Crytek bought the Homefront franchise for US$544,218.

Other THQ assets were not included in the sale; the company still hopes to find other buyers, but employees working on those titles will be made redundant.

Farrell and Rubin concluded:

The work that you all have done as part of the THQ family is imaginative, creative, artistic and highly valued by our loyal gamers. We are proud of what we have accomplished despite today's outcome. It has been our privilege to work alongside the entire THQ team... Thank you all for your dedication and for sharing your talent with the THQ team. We wish you the best of luck and hope you will keep in touch.

You can read the full text of the letter at Polygon.