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 THQ sold: buyers include Ubisoft, SEGA, Crytek - briefly
(hx) 04:07 PM EST - Jan,23 2013
Today, THQ was officially sold and auctioned off. Within the next few weeks, the company will be no more. The company's assets have been divided, pending final court approval: Sega agreed to purchase Relic (Company of Heroes), Koch Media has agreed to purchase Volition (Saint's Row) and the Metro property, Crytek has agreed to buy Homefront, Take-Two will purchase the unannounced game Evolve, and Ubisoft will buy THQ Montreal and the South Park game. Here's the letter that THQ's CEO and president sent to all employees:
We now have the answers we've been seeking through our financial restructuring and Chapter 11 case. While much will be written, here are the facts of the bids and auction
that occurred t:

    Yesterday morning, we received a competing bid for the operating business, along with Clearlake's offer, and numerous offers for separate assets.

   - During an auction process that lasted over 22 hours, the final conclusion was that the separate-asset bids would net more than a single buyer for the majority of the company.
   - Shortly, we will, present the results to the U.S. Bankruptcy Court, which must concur with our assessment.
   - The proposed sales of multiple assets is as follows :
   - Sega agreed to purchase Relic
   - Koch Media agreed to purchase Volition and Metro
   - Crytek agreed to purchase Homefront
   - Take 2 agreed purchase Evolve and
   - Ubisoft agreed to purchase Montreal and South Park

We expect these sales to close this week.

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. What this means for 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.

last 10 comments:
Csimbi(08:19 PM EST - Jan,23 2013 )
Phuh. Good! I was afraid Ubi would put its dirty hands on CoH.

Thudo(11:19 PM EST - Jan,23 2013 )
Dawn of War 3 is still a ways off now.. gah!

[goes back to modding Dawn of War 1]

:D

Stumpus(11:36 AM EST - Jan,24 2013 )
What a fucking state the games industry is in............ I thought i had seen the worst when DID,Microprose, DI turned turtle. The industry is on the cusp of financial disaster. Christ, i've even read serious articles about Intel incorporating CPUs into motherboards and doing away with selling individually. Likewise ARM is making huge steps to into the PC game, it's all about the fact that the PC isn't selling nothing like it used to in the hardware dept and has reported lost sales for the first time in 12years.
The whole thing is in flux, nothing rules anything anymore. That's the future for now on. Generations of gamers play on their bloody phones now!! Enough said

Thudo(11:44 AM EST - Jan,24 2013 )
Within 5years Smartphones will be quite powerful.. thats just where the tech trends are going. Mini PCs and Consoles placed onto handhelds and dockable/sync-able to large screens. Our desktops (even laptops) are becoming dinosaurs now (well, except in the business world where thats gonna take much longer to transition).

Still.. yeah.. gaming industry is changing but its not like it can remain as its always been. Everything is moving so fast!!!

Csimbi(07:29 PM EST - Jan,24 2013 )
I think PC are going to stay quite a while.
They'll just get smaller.
Instead of occupying half the desk, they'll fit nicely behind the monitor.
Have a look at the latest ITX boards coming out; some of them are as powerful as an ATX board.
Same deal with graphics cards.
SFF cases get better and better, too. It won't take long for having powerful PCs behind monitors to become reality.

Baconnaise(12:49 PM EST - Jan,30 2013 )
It's really because PC hardware can't get much better than it is already except for marginal or side grade gains. Miniature designs and shrinking are allowed to catch up in terms of power for the first time in two decades. Now that we're at a wall of sorts for awhile now we're seeing the two equalize or normalizing with each other which is new to us. I'm not sure if a big part of the problem is hardware/software patents but I wouldn't doubt it if it's partially to blame for the slow in progress.

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