Video game news and links collected by your friendly neighborhood gaymer.

THQ auction results: Clearlake Capital deal is busted

The court has chopped up THQ and sold it for parts. The auction, ordered by the Bankruptcy Court of the District of Delaware, ended today. Many gamers and developers are worried about the future of the publisher’s development studios, intellectual properties, and employees.

We now know that Clearlake Capital will not take over THQ, and the company’s assets have been sold to others. We’ll provide specifics below as we learn them (check here for updates):

Company of Heroes developer Relic is now Sega Relic
In December, THQ filed for bankruptcy. Clearlake Capital, an equity firm, immediately filed a motion to acquire THQ’s assets intact for $60 million. Earlier this month, GamesBeat reported that THQ’s lenders objected to Clearlake’s acquisition on the basis that a liquidation of assets would likely earn a higher price. The court agreed with that objection, which led to this auction.

VentureBeat » Games

via THQ auction results: Clearlake Capital deal is busted.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s