THQs assets bought by five companies in 22hour bankruptcy auction

first_imgShortly after the wildly successful Humble THQ bundle, it was revealed that THQ filed for Chapter 11 bankruptcy. Now, an auction that lasted 22 hours cemented THQ’s demise, as the company was split up into five parts that were sold off to the highest bidder.Big names threw their hat into the ring, claiming all of THQ’s most prized assets. Perhaps THQ’s most prized possession, Volition — developer of Saints Row and Red Faction — was scooped up by Koch Media for around $22.3 million. Koch also snagged the license for the Metro franchise for around $5.9 million. Sega joined in the feast, and grabbed Relic — developer of Warhammer 40k and Company of Heroes 2 — for $26.6 million. Ubisoft dropped $2.5 million on THQ Montreal, as well as the license to the upcoming South Park: The Stick of Truth for $3.26 million. Crytek nabbed the Homefront license for $544,218, while Take 2 spent $10.9 million on Evolve, which is a Turtle Rock Studios project.Sadly, Vigil Games — developer of Darksiders — didn’t receive a bid and will be closed. Aside from that, word is that most employees will be retained, or hired by new developers, though not everyone will be able to keep a job. A letter from THQ CEO Brian Farrell and president Jason Rubin sent out to all THQ employees noted that the individual sales would generate more money than selling the company as a whole, and the assets that weren’t purchased will remain as part of the Chapter 11 bankruptcy case.It’s sad to see THQ go, and Darksiders fans will be left with an unfulfilled taste in their mouth, but at least the rest of THQ’s franchises have been saved from oblivion.via VentureBeatlast_img read more

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