THQ has announced that a private equity firm named Clearlake Capital Group is interested in purchasing most of the assets of THQ. These assets include: the teams that make the games (Relic, THQ Montreal, Vigil and Volition), THQ’s Intellectual Property (titles, source code, etc.), THQ’s contracts (like the ones with Crytek, South Park Digital Studios, 4A games, Obsidian, and Turtle Rock) and the support staff that are required to help the teams succeed.
Clearlake will continue to fund THQ products while the process is playing out and when the purchase is complete, Clearlake has committed to invest additional funds to finish the games THQ is making and continue making games going forward.
In order to start the transition, THQ has had to file for Chapter 11. Luckily for fans of THQ, this will not stop production of any of their upcoming titles. More information will be released soon.