THQ Inc. and Majesco Entertainment Company Announce International Sales and Distribution Agreement
CALABASAS HILLS, Calif., Aug. 18: THQ Inc. (Nasdaq: THQI) and Majesco Entertainment Company (Nasdaq: COOL) today announced an international sales and distribution agreement. Under the terms of the agreement, THQ will sell and distribute 14 Majesco titles for the current console, handheld and PC platforms over a two year period in all PAL territories.
"This is a great opportunity for THQ to expand its portfolio of products internationally," stated Ian Curran, Senior Vice President, European Publishing, THQ. "Working with Majesco on such critically-acclaimed games as Psychonauts and key licensed properties such as Jaws is a great opportunity for THQ to expand our business and realise the success of these titles globally."
"This initiative significantly expands Majesco's global presence," said Jesse Sutton, president of Majesco. "THQ is recognized worldwide as a premier publisher and we are excited to partner with them to effectively extend our brands throughout the global community."
The sales and distribution deal covers such highly anticipated titles as Psychonauts, Jaws Unleashed, Nanostray, Aeon Flux, Age of Empires 2, and Black & White Creatures.
About Majesco Entertainment Company
Headquartered in Edison, NJ, Majesco Entertainment Company (Nasdaq: COOL) is an innovative provider of digital entertainment products and content. The Company's diverse product lineup includes forthcoming video games such as Aeon FluxTM and JAWSTM Unleashed, as well as videos for handheld systems via its platform-independent video compression technology; and digital entertainment products like Frogger® TV Arcade. More information about the Company can be found online at http://www.majescoentertainment.com.
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 sells product through its global network of offices located in the United States, United Kingdom, France, Germany, Netherlands, Spain, Korea and Australia. More information about THQ and its products may be found at www.thq.com and www.thqwireless.com. THQ and THQ Wireless and their respective logos are trademarks and/or registered trademarks of THQ Inc.
The statements contained in this press release which 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 sales and distribution agreement between THQ and Majesco Entertainment, 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.