By AARON YNCLAN, Guest Writer
Following a 22-hour auction, several THQ properties have been picked up by rival companies, including Saints Row developer Volition, THQ Montreal, and Relic Studios.
After years of financial troubles, THQ (one of the four major U.S. game companies) announced on December 19th of last year that it had filed for Chapter 11 bankruptcy. Originally, THQ had intended to keep the company whole by entering into an Asset Purchase Agreement with Clearlake Capital Group, who essentially would acquire all of THQs assets.
However, a formal objection to the sale filed by creditors and trustees was brought before the U.S. bankruptcy court, which “granted a motion to approve a sale of the majority of THQ’s assets to multiple buyers.”
The auction ended on Tuesday last week and all asset purchases are still pending court approval, but results are as follows:
Koch Media (owner of Dead Island publisher Deep Silver) purchased Saints Row and its developer Volition, as well as publishing rights to sci-fi franchise Metro, for $28.1 million.
Turtle Rock Studios in-development project, codenamed Evolve, was picked up for $11 million by Take Two (parent company of Grand Theft Auto developer Rockstar).
Crytek (developers of Crysis) purchased the Homefront franchise for $500,000. Crytek is also currently in development of Homefront 2.
Relic Studios, developer of Company of Heroes 2 and Warhammer 40,000: Dawn of War, was purchased by SEGA for $26.6 million.
THQ Montreal studios and the publishing rights for South Park: The Stick of Truth were picked up by Ubisoft for $5.7 million.
Though these franchises have a new home, fans will notice that a number of THQ favorites are absent from this list, including Darksiders, Destroy All Humans!, and Red Faction. However, in a recent interview with Game Informer, former THQ president James Rubin confirmed the fate of these and all other unsold properties.
“There will be a separate process to sell off the back catalog and IP,” Rubin said. “That process will take place in the coming weeks.” No studio has officially announced their interest in the leftover properties yet, but a recent tweet suggests that Vigil Games and the Darksiders franchise may soon have a new home. According to Kotaku, Platinum Games head Atsushi Inaba took to twitter following the auction and said: “In THQ studio and IP selling off auction, Darksiders is unsold? [We] wanna buy it…on the cheap…”.
While this is far from an official offer, it’s still a ray of hope for the Texas-based studio. As for the back catalog process, an official date has yet to be set, but additional information is expected to be announced soon.
For additional information and further details into the THQ auction, visit ign.com.