THQ Auction results see major franchises sold
SEGA, Take Two, Ubisoft and more are involved as company assets are auctioned off
The official results of today's THQ Auction are beginning to appear, with big moves being made to save major brands from the bankrupt publisher.
Reported by NeoGaf, a letter was sent to all THQ employees detailing the outcome.
The big movers are as follows. Sega agreed to purchase Relic studio (Company of Heroes, Warhammer 40k) for $26.6 million. Bethesda was the runner-up on the purchase with $26.3 million offer.
Koch Media agreed to purchase Volition studio (Saints Row) for $22 million. Ubisoft also made a $5 mil bid. Similar bidding war took place for the Metro franchise, also being purchased by Koch Media for $5.8 million over Ubisoft's offered $5.3 million.
Take 2 agreed purchase Evolve license for $10 million. Developers Turtle Rock tried to make a bid for their own game, with a $250k offer. Ubisoft agreed to purchase THQ Montreal studio ($2.5 mil, no other offers) and South Park license ($3 mil, no other offers).
Other transactions saw Crytek purchase Homefront ($500k, no other offers) and EA working on a WWE agreement.
Perhaps most surprising is the fate of Vigil studio (Darksiders), which was not sold today and thus could potentially be closed if no buyer steps up soon.
"We expect that most employees of the entities included in the sale will be offered employment by the new owners. However, we cannot say what these owners may intend, and there will likely be some positions that will not be needed under the new ownership. You should receive notice this week or early next week if the new owners intend to extend employment to you. Please note that the terms of your new employment, including pay and benefits, may be different from the current terms of your employment with THQ," read the letter from President Jason Rubin and CEO Brian Farrell. "If you are an employee of an entity that is not included in the sale, we regret that your position will end."
THQ Inc. was founded in 1989 in the United States, the company developed products for video game consoles, handheld game consoles, as well as for personal computers and wireless devices. Its name derives from "Toy Head-Quarters" during the time when the company was a toy manufacturer in the early 1990s.