THQ bankruptcy sale: All the details

THQ Posts $136m Loss


UPDATE: Venturebeat has the financial terms of the sell-off. The details, in summary, are as follows:

- Sega bought Relic for $26.6m. Zenimax (which owns Bethesda) narrowly missed out with a bid of $26.3m
- Koch bought Volition for $23m. Ubisoft bid $5.4m for the studio
- Ubisoft was the only bidder for THQ Montreal, and it paid $3.2m
- Darksiders developer Vigil has not found a bidder at this stage
- Crytek acquired Homefront for $500,000. There were no other bids
- Koch Media bought the Metro IP for $5.8m. Ubisoft bid $5.175m
- Ubisoft bought South Park rights for $3.2 million. There were no other bids
- Take 2 snapped up new IP Evolve for $11m. Developer Turtle Rock Studios bid $250,000

Original story: THQ chief executive Brian Farrell has reportedly revealed the destiny of a number of the companies’ studios in a letter to staff.

Kotaku has obtained a copy of the letter, which states that, in summary:

– Sega is to acquire Relic (Company Of Heroes and Warhammer 40,000: Dawn Of War)
– Koch Media has agreed to buy Volition (Saints Row) and the Metro IP
– Homefront has been purchased by Crytek
– Evolve, an unannounced project, has been acquired by Take 2
– Ubisoft has snapped up THQ Montreal and South Park

“We expect these sales to close this week,” adds the letter. “Some assets, including our publishing businesses and Vigil, along with some other intellectual properties are not included in the sale agreements. They will remain part of the Chapter 11 case. We will make every effort to find appropriate buyers, if possible.”

Most employees of the entities included in the sale will be offered employment by their new owners, but that is down to their discretion; redundancies remain a possibility.

Finally, the letter states that THQ employees should receive notice this week or early next week if their role is to survive the transition. Employees that aren’t part of any of the studios or properties sold on will be made redundant, though “A small number of our headquarters staff will continue to be employed by THQ beyond January 25 to assist with the transition.”

Read more on the THQ bankruptcy deals here:

Koch welcomes Saints Row and Metro

Ubisoft acquires THQ Montreal and its unannounced projects

Sega to reveal more detail on Relic buy

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