THQ Leaked Memo Reveals Asset Purchases, Dissolved

THQ’s asset auction is now over. Crytek gets Homefront, Sega gets Relic, Koch Media (Deep Silver) gets Volition and Metro, Take 2 gets Evolve, and Ubisoft gets THQ Montreal and South Park: The Stick of Truth.

This information was confirmed at noon today through a leaked memo sent by THQ’s CEO Brian Farrell to its employees, which was tweeted by a former THQ employee. The memo cleared up several items of note, including whether or not Clearlake even had a chance at purchasing THQ as a whole or if it was better if assets were to be sold piecemeal. The memo confirms that the latter actually happened.

The summary of purchases are as follows:

  • Crytek acquires the Homefront brand for $544,218.
  • Sega acquires Relic Entertainment, the developers of Company of Heroes and Warhammer 40,000: Dawn at War, for $26.6 million. ZeniMax Media has a back up bid at $26.3 million.
  • Koch Media, the parent company of Deep Silver, acquires Volition, developers of Saint’s Row and Red Faction, as well as the Metro brand. This includes the sale of the Saint’s Row brand as well. Koch Media paid $22.3 million for Volition and Saint’s Row and paid $5.8 million for the Metro brand, with Ubisoft having a back up bid of $5.4 million.
  • Take 2 Interactive acquires the Evolve brand, which was a title that was in development at Turtle Rock Studios, at the cost of $10.8 million. Turtle Rock Studios is the back up bidder at $250,000.
  • Ubisoft acquires THQ Montreal, a studio headed by former Assassin’s Creed creative director Patrice Desilets, in addition to publishing rights to the South Park: The Stick of Truth. Ubisoft bought THQ Montreal at the tune of $2.5 million while the rights to publish South Park: The Stick of Truth were sold at $3.3 million.

Update 1:

Vigil and other properties not named within will be part of the chapter 11 case and THQ will be looking for buyers. Also,  the letter also confirms that “If you are an employee of an entity that is not included in the sale, we regret that your position will end.”

@DDInvesting revealed the actual sale price for each property acquired during the auction.

Update 2:

The backup buyers were revealed, including the exact prices for each back up bid.

Source(s):

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