ECTS: THQ Acquires Volition
The developer of Red Faction and Summoner is now officially part of THQ.
Today, from the ECTS show floor, THQ announced that it had acquired Volition, the Champaign, Illinois-based developer that is currently working on the first-person shooter Red Faction and the role-playing game Summoner. The deal was paid for in just under 900,000 shares of THQ stock, as well as the promise of another 100,000 sometime in the future.
"Volition is a strategic addition to THQ's business," stated Brian Farrell, president and CEO of THQ. "Their technological capability and creative talent have brought about some of the most original, innovative gameplay in the industry. We look forward to the PlayStation 2 and PC launches of Summoner and Red Faction and many more contributions from the Volition teams."
As part of the deal, THQ also acquired Volition's online player-matching service, Parallax Online. Volition was originally founded by a group of ex-Parallax designers, who worked on the original Descent game. Volition is now considered an external development team for THQ, and no plans to move the company to THQ's Southern California offices have been announced or are likely to take place.
Got a news tip or want to contact us directly? Email firstname.lastname@example.org