NEWS - Tuesday, July 2, 2002
THQ has purchased Valusoft, Inc.
Are some value priced Xbox games on the horizon? THQ has finished their acquisition of Valusoft, Inc. However, Valusoft is into the PC market, but now that they are owned by THQ, will this lead them into developing Xbox games? Here is the full press release: THQ CLOSES ACQUISITION OF VALUSOFT CALABASAS HILLS, Calif., July 2, 2002 - THQ Inc. (NASDAQ NMS: THQI) today announced that it has completed its previously announced purchase of substantially all the assets of ValuSoft, Inc., a leading publisher and distributor of consumer-priced interactive entertainment and productivity software. This acquisition will allow THQ to enter a new market segment through ValuSoft’s extensive line of high quality, reasonably priced software targeting the casual computer user. ValuSoft’s catalogue primarily consists of family entertainment, war games and home productivity products. ValuSoft’s expertise in distributing to this market segment will open additional channels of distribution for THQ’s own robust line of mass-market PC products at the $9.99 to $19.99 price range. The acquisition is not expected to have an impact on THQ’s 2002 earnings but it is expected to be accretive to its 2003 earnings.Source: http://www.xboxaddict.com/
