THQ Announces Acquisition of Vigil Games
AGOURA HILLS, Calif., March 16: THQ Inc. (Nasdaq: THQI) today announced the acquisition of Vigil Games. Based in Austin, Texas, the team at Vigil will be led by David Adams, previously creator/director of several projects for NCSoft and famed comic artist Joe Madureira, best known for his work on Marvel Comic's Uncanny X-Men and his creator-owned comic series Battle Chasers. Vigil is currently working on new content for next-gen scheduled for release in 2008.
"The team at Vigil is comprised of some of the most talented designers, artists and technologists in the industry," said Jack Sorensen, executive vice president of worldwide studios, THQ. "This acquisition is part of our Studio System strategy, which is designed to foster a singular vision and unique culture at each of our studios. Our system allows us to leverage resources across our entire development organization to the benefit of each of our studios."
"When evaluating publisher opportunities, our goal was to find a partner that provided unmatched global marketing and sales expertise," said David Adams, General Manager, Vigil Games. "We were pleased to learn that THQ's value proposition to developers doesn't stop there. Our team will also benefit from the company's unique Studio System approach and development outsourcing program."
Vigil's first project -- a totally original property for next-gen systems -- is expected to be announced later this year.
About THQ
THQ Inc. (Nasdaq: THQI) is a leading worldwide developer and publisher of interactive entertainment software. The company develops its products for all popular game systems, personal computers and wireless devices. Headquartered in Los Angeles County, California, THQ is a top producer of original intellectual properties including titles such as Destroy All Humans!TM, JuicedTM and Full Spectrum WarriorTM as well as the upcoming The Outfit, Saints RowTM, Titan QuestTM and Company of HeroesTM. More information about THQ and its products may be found at www.thq.com and www.thqwireless.com. THQ, Vigil Games, THQ Wireless, Company of Heroes, Destroy All Humans!, Juiced, The Outfit, Saints Row, Titan Quest and their respective logos are trademarks and/or registered trademarks of THQ Inc.
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The statements contained in this press release that are not historical facts may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the business of THQ Inc. and its subsidiaries (collectively referred to as "THQ"), including, but not limited to, expectations and projections related to the integration of acquired businesses and the capabilities of Vigil Games, and are based upon management's beliefs and certain assumptions made by management. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward looking statements, including, but not limited to, economic, competitive and technological factors affecting the operations, markets, products, and pricing of THQ. Readers should carefully review the risk factors and the information that could materially affect THQ's financial results, described in other documents that THQ files from time to time with the Securities and Exchange Commission, including its Quarterly Reports on Form 10-Q and Annual Report on Form 10-K for the fiscal period ended March 31, 2005, and particularly the discussion of risk factors that may affect results of operations set forth therein. Unless otherwise required by law, THQ disclaims any obligation to update its view on any such risks or uncertainties or to revise or publicly release the results of any revision to these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.