THQ Announces Formation of XDG - New Team to Streamline Development Outsourcing Needs
AGOURA HILLS, Calif., March 14, 2006: THQ Inc. (Nasdaq: THQI) today announced the formation of XDG (External Development Group), a new team charged with streamlining the company's development outsourcing needs. Shiraz Akmal, previously director of research and development at THQ's Heavy Iron Studios, has been tapped to lead XDG.
"Our ultimate goal for XDG is to increase our production capabilities and cost efficiency across the entire studio system," said Jack Sorensen, executive vice president of worldwide studios, THQ. "We're confident that XDG will function as an extremely valuable resource allowing our core teams to focus on delivering the innovative gameplay consumers will expect from the next-generation systems."
For more information about working with THQ's XDG go to http://xdg.thq.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 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 The Outfit, 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, XDG, Company of Heroes, Destroy All Humans!, Juiced, The Outfit, Saints Row, Titan Quest and their respective logos are trademarks and/or registered trademarks of THQ Inc.
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 capabilities of XDG (External Development Group), 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.