THQ Assets sold and Company Dissolved

Multi-Million dollar company THQ is no more.

CEO Brian Farrell and president Jason Rubin have sent a letter to the employees stating that the company will be broken apart and their assets will be sold to different companies. They are also currently presenting their case to the U.S. Bankruptcy Court...

Their Assets were sold off as so:-

Relic Entertainment and Company of Heroes franchise - Sold to Sega Corporation for $26.6 million

THQ Montreal, including 1666 and Underdog - Sold to Ubisoft for $2.5 million

Evolve aka Metamorphosis - Sold to Take-Two Interactive for $10.894 million

Volition and Saints Row franchise - Sold to Koch Media for $22.3 million

Homefront franchise - Sold to Crytek for $544,218

Metro franchise - Sold to Koch Media for $5.8 million

South Park: The Stick of Truth - Sold to Ubisoft for $3.2 million

The fate of the Darksiders series and it's developer Vigil Games is still unknown. "We will make every effort to find appropriate buyers, if possible." said Farrell and Rubin.

The auction document also contained information about an announced game called "Underdog" by THQ Montreal. Along with this another game "1666" was also found.

The document suggests that High Voltage Software and Volition Inc. are working together on the development of Saint Row 4.

Most employees will be offered jobs by their new owners, but it is a little uncertain as all the positions might not be needed by all the companies.

Employees that are not part of the sale will be left unemployed, though a small number of staff will remain employed at THQ, Agoura Hills, California beyond 25th January to assist in the transition stage.

"While the company will cease to exist, we are heartened that the majority of our studios and games will continue under new ownership," Farrell and Rubin said. "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," they said.

This is truly a sad day for gamers. What are your thoughts on this? Will the new owners be able to develop THQ's games to their potential and live up to the standards?