Ubisoft plotting THQ bid

Ubisoft plotting THQ bid
Michael French

By Michael French

December 21st 2012 at 11:18AM

Publisher keen to take on company's brands and studios

Ubisoft is one of the front-runners in the bid to buy THQ's assets, MCV reports.

MCV has been told that the French firm is keen to take over the publisher's brands and studios once THQ works through its current financial problems.

On Wednesday night THQ filed for bankruptcy as it handed over its tangible assets - including its studios and US operation - to an investment firm hoping to sell the business on.

No studios or offices are closing, but THQ is now very publicly on the market.

This 'stalking horse bid' process with an investor effectively writes off the company's debts but keeps its business as a going concern to make it ideal for acquisition.

Ubisoft had previously expressed interests in the firm's assets.

Now sources have told MCV it is already in lengthy discussions with the firm (and presumably its new owners at Clearlake investments) to forge a deal.

MCV has the full story.