THQ dismantled – studios, assets auctioned off

THQ employees were told today that the auctioning of publisher’s assets has been completed, and layoffs will now begin. Many of THQ’s studios have found new homes, while others could be shut down altogether.

According to a letter from THQ CEO Brian Farrell and president Jason Rubin: Sega has agreed to buy Relic, Koch Media will acquire Volition and Metro: Last Light, Crytek has purchased Homefront, Take 2 Interactive has picked up Evolve, and Ubisoft has procured South Park: The Stick of Truth.

The prices that these companies have paid for the studios are as follows:

• $500k Homefront (Crytek)
• $26M for Relic (Sega)
• $2.5M for THQ Montreal (Ubisoft)
• $3.2M for South Park (Ubisoft)
• $11M for Evolve (Take-Two)
• $22.3M for Volition (Koch Media)
• $5.8M for Metro (Koch Media)

THQ says that they expect the sales to be wrapped up this week.

Vigil Games (Darksiders and Darksiders II) hasn’t yet found a buyer and faces closure. The assets that were not purchased by other companies will remain part of THQ’s Chapter 11 case, while THQ continues to search for a suitable buyer.