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Say Goodbye to THQ

So THQ is no more. Sad part is anyone that was paying attention saw this coming awhile ago, but don’t get that upset because seven of their studios and licensed game have found new homes.

  • Sega will purchase Relic Entertainment (Company of Heroes) for $26.6 million.
  • Ubisoft will purchase THQ Montreal (1666 and Underdog) for $2.5 million and South Park: The Stick of Truth for $3,265,306.
  • Take-Two Interactive will purchase Evolve for $10.894 million.
  • Koch Media (Deep Silver) will purchase Volition, Inc. (Saints Row) for $22.3 million and Metro series for $5,877,551.
  • Crytek will purchase Homefront series for $544,218.

I am really excited to see what Crytek is going to do with the Homefront franchise, and how Koch Media is going to handle Saints Row and Metro.

So what did THQ CEO Brian Farrell and President Jason Rubin have to say to their former employees? Well, read the letter that was sent to all the employees:

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.

If you are an employee of an entity that is not included in the sale, we regret that
your position will end. A small number of our headquarters staff will continue to be
employed by THQ beyond January 25 to assist with the transition. THQ has sufficient
resources to pay these employees for work going forward, and we will be contacting
these employees immediately to ensure their continued employment during this
transition period. We are requesting the ability to offer certain severance pay to
minimize disruption for employees of non-included entities as they determine the next
steps in their careers.

We know you will have many questions about this news. We’ll be meeting tomorrow
when we return to talk through this announcement and to answer any questions you
have. You will receive a benefits fact sheet and FAQs with answers to some questions
that may be on your mind. Please review these materials closely.

A personal note

The work that you all have done as part of the THQ family is imaginative, creative,
artistic and highly valued by our loyal gamers. We are proud of what we have
accomplished despite today’s outcome.

It has been our privilege to work alongside the entire THQ team. While the company
will cease to exist, we are heartened that the majority of our studios and games will
continue under new ownership. We were hoping that the entire company would remain
intact, but we expect to hear good news from each of the separate entities that will be
operating as part of new organizations.

For those THQ employees who are part of entities that are not included in the sale, we
are confident that the talent you have displayed as part of THQ will be recognized as you
take the next steps in your career.

Thank you all for your dedication and for sharing your talent with the THQ team. We
wish you the best of luck and hope you will keep in touch.

Sincerely,

Brian Farrell
Chief Executive Officer

Jason Rubin
President

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