THQ auction results: Clearlake Capital deal is bustedPosted: January 23, 2013
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.
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