THQ
From toys to video games: the rise and fall of THQ.
THQ Inc. was an American video game company based in Agoura Hills, California. It was founded in April 1990 by Jack Friedman, originally in Calabasas, and became a public company the following year through a reverse merger takeover. Initially working in the toy business, it expanded into the video game business through several acquisitions before shifting its focus away from toys entirely. THQ continued its trend of acquiring companies throughout the 2000s.
The company published both internally created and externally licensed content in its product portfolio. THQ's internally created game series included Darksiders, De Blob, Destroy All Humans!, MX vs. ATV, Red Faction, and Saints Row, among others. The company also held exclusive, long-term licensing agreements with sports and entertainment content creators, such as Disney/Pixar, DreamWorks Animation, Nickelodeon, and WWE. After years of financial struggles, stock value drop, and debt, THQ filed for Chapter 11 bankruptcy in December 2012 and commenced liquidation of its assets the following month.
Several properties were auctioned to other companies, while the remaining staff were laid off. The 'THQ' trademark was eventually acquired by developer Nordic Games (which had also acquired some of THQ's auctioned-off properties) in 2014 and assumed the name 'THQ Nordic' in 2016, while continuing a variety of its franchises under said name.
Quick Facts
- Founded
- 1989
- Headquarters
- California, United States
- Role in saints row
- Publisher (2006–2013)
- Primary developer partner
- Volition
- Status
- Defunct (bankrupt 2013)
Lore & Background
THQ Inc. was founded by LJN co-founder Jack Friedman in April 1990. 'THQ' is an initialism for 'Toy Headquarters'. THQ acquired New Ventures, a division of Broderbund, in September 1990. In 1991, Trinity Acquisition Corp, a NASDAQ-listed special-purpose acquisition company (SPAC), agreed to acquire and merge with THQ in a reverse merger takeover.
The deal was a stock swap valued at about $33 million, with THQ's shareholders owning 51.7% of the new entity. THQ's name was retained for the new company, its ticker symbol was changed to 'THQI', and Friedman was named as its president. THQ then acquired video game developer Black Pearl Software of Chicago in 1993. Following the acquisition, THQ would use the Black Pearl Software name for its Sega games, while the Malibu Games name would be used for the Nintendo games.
In mid 1993, the company partnered with Malibu Comics to develop video games based on the Ultraforce, but never came to fruition, with one of these instead went to Sony Imagesoft. THQ withdrew completely from the toy business in 1994 to focus solely on video game production. Around the same time, the company entered into a deal with Electronic Arts to license five titles for various consoles. Jack Friedman then left the company in 1995 to co-found the toy manufacturer Jakks Pacific.
At the Winter CES 1995, THQ signed an expanded deal with Electronic Arts to develop games for its 16-bit and 8-bit home consoles and handheld titles. From then on, the Black Pearl Software name would be used for 8-bit and 16-bit games, while THQ introduced the Kokopeli Digital Studios brand name for its 32-bit games. In 1997, THQ was reincorporated as a Delaware Corporation, and in 1999 acquired San Jose video game developer Pacific Coast Power & Light.
In June 1998, the company entered into a ten-year 50/50 joint venture with Jakks Pacific (entitled THQ/Jakks Pacific LLC) to acquire the WWF (later WWE) video game license, previously held by Acclaim Entertainment. The deal, which would begin in October 1999, would correspond with two titles per year that THQ would handle product development and sales for. In 1999, it signed a deal to publish Power Rangers video games. Also that year, it signed a licensing agreement with British game developer Codemasters to bring its titles to its handheld market.
Did You Know?
- Volition was acquired by THQ in September 2000 and was later sold to Koch Media as part of THQ's asset sale in early 2013.
- Saints Row IV was not published by THQ; it was published by Deep Silver after THQ's bankruptcy and the sale of the IP.
More in Development & Legacy
Elsewhere in Saints Row
Spotted an error? Know more?
Reader corrections go straight into our review queue. Suggest an edit · How this site is sourced