AGOURA HILLS, CA, March 6, 2006 - THQ Inc. (NASDAQ: THQI) today announced it has expanded its global studio system by acquiring its first European-based development studio, Juice Games Ltd.
The UK-based studio has recently developed the critically-acclaimed JuicedTM for the PlayStation2 computer entertainment system, the Xbox videogame system from Microsoft and Windows PC, and is redefining the handheld racing genre by bringing the franchise to the PSP portable entertainment system in Summer 2006 with the PSP exclusive, JuicedTM: Eliminator.
Under the terms of the deal, THQ has purchased the entire share capital of Juice Games. Colin Bell, formerly Juice Games' managing director, will assume the role of general manager.
"This acquisition highlights THQ's strategy to work with the very brightest development talent from around the world," said Dan Kelly, senior vice president of business development, THQ Inc. "The Juiced franchise has shipped over one and a half million units so far, a tribute to the talent and passion of the award-winning team at Juice Games. We look forward to further investing in the studio to bring more ground-breaking games in the Juiced franchise to market as well as developing new intellectual properties."
"The decision to partner with THQ reflects the great relationship we have established over the past two years," said Colin Bell, general manager, Juice Games. "Joining THQ marks an exciting step forward for us and will enable us to do what we do best - develop cutting edge, innovative games that continue to redefine perceptions."
Juice Games won Best New UK/European Studio in Develop's 2005 Excellence Awards and their first title, Juiced, topped the All-Format charts in the UK.
About Juiced: Eliminator
Juiced: Eliminator brings real street racing to the PSP, employing the console's wireless functionality to offer never-before-seen multiplayer games and extending the crew & pink-slip racing that helped establish Juiced as a leader in the street-racing genre.
About Juice Games
Juice Games is a UK-based console and handheld games developer. Founded in 2003 and acquired by THQ in 2006, Juice Games employs over 50 staff at its Warrington offices. Juice Games has an unprecedented track record in creating highly-entertaining and challenging games, and is renowned within the UK development community. With a history spanning games such as TFX, EF2000, eRacer, Total Air War, Typhoon and the critically-acclaimed but unreleased Lamborghini, Juice Games enjoys an enviable catalogue. Utilizing its own leading-edge technology, Juice Games has developed the high-profile and well-received Juiced street racing simulation for Xbox, PlayStation2 and PC. Juice Games has also enjoyed success with a number of titles for Java, BREW and Symbian mobile platforms.
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 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, THQ Wireless, Juiced, Juiced: Eliminator, Destroy All Humans, Saints Row, Titan Quest, Company of Heroes and their respective logos are trademarks and/or registered trademarks of THQ Inc.
All other trademarks are the property of their respective owners.
"PSP" is a trademark and "PlayStation" and the "PS" Family logo are registered trademarks of Sony Computer Entertainment Inc. Memory Stick DuoTM may be required (sold separately).
Microsoft, Xbox and the Xbox logos are either registered trademarks or trademarks of Microsoft Corporation in the U.S. and/or in other countries and are used under license from Microsoft.
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 release and features of Juiced: Eliminator on the PSP portable entertainment system, 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.