THQ sells its ValuSoft division to Cosmi
THQ's focus remains on core games as it looks to regain profitability
THQ today confirmed that it's sold off its ValuSoft games division responsible for cheaper PC casual offerings like 18 Wheels of Steel and Master Cook. Consumer software firm Cosmi picked up ValuSoft for an undisclosed price.
The acquisition was made possible through the creation of ValuSoft Finance LLC, a sister company to Cosmi. Cosmi noted that the new ValuSoft+Cosmi venture makes it the second largest US Retail Publisher of PC Games in units sold and the #1 Retail Publisher in the Value Software Category by units sold.
As for THQ, the move comes as little surprise, given that THQ has been struggling financially and has been streamlining its business to focus its portfolio on fewer, higher quality core games, like Darksiders II, which was pushed back recently for extra polish.
"THQ's product strategy is aligned to create and market high-quality video games for both consoles and PCs. With the transition of the 'Value' PC business to Cosmi, our internal resources are now focused on our core video game portfolio where we can drive the highest quality performance and execution for our games. This shift also presents a great, new opportunity for ValuSoft and its broad portfolio of products," said Brian Farrell, President and CEO, THQ Inc.
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