THQ Acquires Relic
Press Release, 27th April 04
THQ To Acquire Relic Entertainment; Creators of Critically Acclaimed Homeworld Developing Warhammer 40,000: Dawn of War for Fall 2004 Release
CALABASAS HILLS, Calif.–(BUSINESS WIRE)–April 27, 2004–THQ Inc. (Nasdaq: THQI) today announced that it has entered into a definitive agreement to acquire leading PC development studio, Relic Entertainment.
Previously, THQ had partnered with Vancouver-based Relic Entertainment through a two-property, multi-year publishing agreement including the upcoming real-time strategy (RTS) title, Warhammer 40,000: Dawn of War. Scheduled to release in fall 2004, Warhammer 40,000: Dawn of War was named to PC Gamer’s Top 10 highly anticipated titles of 2004.
“The Relic acquisition underscores THQ’s strategy to acquire development studios with a proven ability to create the highest quality products,” said Jack Sorensen, executive vice president of worldwide studios, THQ. “We are confident that Relic’s extremely talented teams of designers, programmers and artists will solidify THQ’s position as a leading publisher of PC and console entertainment.”
“Relic’s single greatest achievement through the years is the amazing talent we have assembled from all corners of the globe,” said Alex Garden, CEO, Relic Entertainment. “These teams will now be a part of one of the industry’s top publishers, whose support will enable even greater opportunities for future success.”
THQ expects the acquisition to be completed by May 1. Other terms of the all-cash transaction were not disclosed.
About Relic Entertainment
Founded in 1997, Relic Entertainment Inc. has become an industry leader in the development of innovative real-time strategy games for the PC. Relic’s first title, Homeworld (1999) was received to widespread acclaim, garnering several “Game of the Year” and “Strategy Game of the Year” awards from major industry publications including PC Gamer and Computer Gaming World. Since then, Relic has released Homeworld: Cataclysm (2000, co-developed with Barking Dog Studios), Impossible Creatures (2003), and Homeworld 2 (2003). Today, Relic is building on this legacy by developing multiple ground-breaking projects in the RTS genre.
About THQ
THQ Inc. is a leading, worldwide developer and publisher of interactive entertainment software for a variety of hardware platforms including PC CD-ROM, wireless devices, and those manufactured by Sony Computer Entertainment America Inc., Nintendo and Microsoft. The THQ web site is located at www.thq.com. The THQ Wireless site is located at www.thqwireless.com.
Impossible Creatures and Relic are trademarks and/or registered trademarks of Relic Entertainment, Inc. THQ and its logos are trademarks and/or registered trademarks of THQ Inc. All other trademarks are property of their respective owners.
This press release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates and projections about THQ’s business based, in part, on assumptions made by its management. These statements are not guarantees of THQ’s future performance, Relic Entertainment’s performance or the success of the acquisition described herein, and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including, but not limited to, those described above and the following: changes in demand for THQ’s products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing and difficulties encountered in the integration of acquired businesses, including Relic Entertainment. In addition, such statements could be affected by growth rates and market conditions relating to the interactive software industry and general domestic and international economic conditions. Specific information concerning these and other such factors is contained in THQ’s March 31, 2003 Form 10-KT filed with the Securities and Exchange Commission. A copy of this filing may be obtained by contacting THQ or the SEC. The forward-looking statements contained herein speak only as of the date on which they are made, and THQ does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.