As the bidding for its last remaining IP has finally ended, the book is closing on THQ’s. According to a legal document, seventeen bids for the properties were received. Though, how those bids were distributed has not been made clear. The auction is expected to receive between six and seven million dollars for the now defunct company and its shareholders. Sales will be processed at the end of May.
THQ originally reported that hundreds of companies were looking to bid for its titles, so it may have been surprising when only 17 bids were made. That being said, Clearlake Capital Group, the company that THQ was originally going to sell its IP to, made some pretty hefty bids itself, though was eventually outbid on every property. That easily could have contributed to THQ’s impressive end profit from the auction.
Whether or not the winners of this auction will do anything substantial with THQ’s properties is yet to be seen. However, E3 is coming up soon and if any of these companies have a huge announcement to make, that would be the natural place to make it. We will bring you more information on the winners of the THQ bankruptcy auction when it becomes available.