THQ to be Dissolved and Sold as Individual Assets
Games publisher, THQ, has been in financial trouble for some time and it appears their financial woes are about to come to an end. Unfortunately, this end appears to come in the form of the company being dissolved. Kotaku has published a letter from CEO Brian Farrell and President Jason Rubin to THQ employees stating that while Clearlake Capital Group made a bid for the company, it appears that offer has been turned down in favor of dissolving the company and selling it as individual assets.
Selling the company as separate assets will net more rather than selling it as a single entity and the list of companies buying the individual entities were also attached with the letter. The list states:
- Relic will be sold to Sega.
- The Homefront franchise will be sold to Crytek.
- THQ Montreal and South Park will be sold to Ubisoft.
- Evolve will be sold to Take 2.
Vigil and some of THQ's other publishing businesses will remain with the company as it attempts to find buyers later on. THQ has also mentioned that for those entities to be bought, the current employees will most likely be offered employment with their new owners, while those who work for the unsold entities are unfortunately, out of a job.