THQ Announces Strategic Agreement with New Digital Developer Innovative Leisure
Company: THQ
AGOURA HILLS, Calif.--(BUSINESS WIRE)--THQ (NASDAQ: THQI - News) today announced a strategic agreement with digital development studio Innovative Leisure, a new company formed by games industry veterans. The agreement will focus on creating and publishing digital games available through digital and mobile platforms. The agreement gives THQ the right to publish multiple Innovative Leisure titles starting in 2012.

Innovative Leisure comprises games industry icons with experience on some of the industry’s biggest games through its history. The team includes Seamus Blackley (”father of the Xbox”), Van Burnham (Supercade), Ed Logg (Asteroids, Centipede, Gauntlet), Rich Adam (Missile Command, Gravitar, PGA Tour Golf), Tim Skelly (Rip Off, Star Castle, Reactor), Owen Rubin (Major Havoc, Space Duel), and Ed Rotberg (Battlezone, S.T.U.N. Runner, Steel Talons). The team’s experience designing and developing highly popular pick-up-and-play gameplay mechanics will be leveraged to innovate and iterate brand-new, modern games on mobile, social and downloadable platforms.

“We are always looking to work with the best creative talent in the video games industry and we feel this relationship with Innovative Leisure reinforces our goal,” said Danny Bilson, executive vice president, Core Games, THQ. “We are committed to delivering creative games through digital distribution and Innovative Leisure has the expertise to deliver remarkable and cutting edge games for a new generation.”

“It’s a great honor (and a lot of fun) to get the opportunity to work with so many of the designers responsible for the gameplay mechanics that form the basis of our whole medium,” said Seamus Blackley, President of Innovative Leisure. “We’re excited about getting to make and release a bunch of awesome games.”

About THQ

THQ Inc. (NASDAQ: THQI - News) 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 and the Internet. Headquartered in Los Angeles County, California, THQ sells product through its global network of offices located throughout North America, Europe and Asia Pacific. More information about THQ and its products may be found at THQ and its logo are trademarks and/or registered trademarks of THQ Inc. All other trademarks are the property of their respective owners.

About Innovative Leisure

Innovative Leisure, LLC, is a game development studio in Los Angeles, California, that specializes in novel mechanics and designs for mobile, social, and casual platforms.

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 publishing agreement between THQ and Innovative Leisure, and are based upon management’s current 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, business, competitive, economic, legal, political and technological factors affecting our industry, operations, markets, products or pricing. 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 Annual Report on Form 10-K for the fiscal period ended March 31, 2011, and subsequent Quarterly Reports on Form 10-Q, and particularly the discussion of trends and risk factors 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.
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