Game dev THQ split up and sold in five parts through bankruptcy auction

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Take 2, Sega, Ubisoft, Crytek among proposed new owners of popular game series.

The writing was on the wall when THQ filed for Chapter 11 bankruptcy protection last month, and now that writing has been etched in stone. After a 22-hour auction, the major publisher's component parts have been divided and sold off in five separate chunks to outside investors.

Company CEO Brian Farrell and President Jason Rubin confirmed the news in a letter to employees today. The bidding resulted in the following proposed sales of THQ's studios and franchise licenses/copyrights, which still have to be approved by the bankruptcy court:

• Sega
  • To purchase Relic (developer of Warhammer 40K and Company of Heroes 2) for $26.6 million. (Interestingly, Bethesda Softworks owner Zenimax media came just short of winning this portion with a $26.3 million bid.)
• Koch Media
  • To purchase Volition (developer of the Saints Row and Red Faction games) for about $22.3 million.
  • To purchase the Metro franchise license for nearly $5.9 million.
• Crytek
  • To purchase the Homefront license for $544,218.
• Take 2
  • To purchase Evolve (a turtle Rock Studios project trademarked last year) for about $10.9 million.
• Ubisoft
  • To purchase THQ Montreal (developer of the upcoming 1666, among others) for $2.5 million
  • To purchase the license to South Park: The Stick of Truth for about $3.26 million (though South Park Studios is putting up some legal argument over that part of the sale)

Darksiders developer Vigil Games received no bids and unfortunately will be shut down. Most current employees at THQ's other studios will likely be retained or rehired by the new owners, the letter says, but there's a chance some positions may not be considered necessary in the new ownership structure.

"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," the letter reads, in part. "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."

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