AGOURA HILLS, Calif.--(THQ Inc. (NASDAQ: THQI) today announced that it has selected Montreal, Quebec, as the location for a brand new video game development studio which the company expects to become the largest facility in its global studio system. The agreement with the government of Quebec will allow THQ to create in excess of 400 sustainable new jobs over the next five years as part of the company’s ongoing efforts to develop the highest quality games in a cost-effective manner.)--
“Moreover, government support, in the form of reimbursable tax credits and other incentives, enabled Montreal to stand out as the best combination of creative talent and favorable economics of the cities we evaluated for our new studio.”
THQ has appointed Dave Gatchel, who was the general manager of THQ’s Paradigm Entertainment studio, to serve as the Montreal studio’s general manager, bringing extensive industry experience to his role. Under his leadership, THQ Montreal will focus primarily on creating core games for THQ as well as providing support for games developed across THQ’s worldwide studio system. THQ expects to create jobs in several disciplines, including design, engineering, art, content and technology development, quality assurance and localization.
“Montreal’s outstanding pool of creative digital media talent and its highly regarded university system makes this the ideal location to support our future product and technology development needs,” said Steve DeCosta, THQ senior vice president, THQ Core Games, Operations and Finance. “Moreover, government support, in the form of reimbursable tax credits and other incentives, enabled Montreal to stand out as the best combination of creative talent and favorable economics of the cities we evaluated for our new studio.”
“We are focused on building hit franchises and achieving efficiencies within our studio organization and THQ Montreal will play an integral role in achieving both of these objectives,” Said Danny Bilson, THQ executive vice president, THQ Core Games. “We expect to ramp up the studio over the next several years, with our first titles targeted for release in fiscal 2013.”
“We are pleased to welcome leading videogame publisher THQ to Montreal,” said Clément Gignac, Quebec’s Minister of Economic Development, Innovation and Export Trade. “THQ’s new studio represents a key investment by a premier video game developer and will create more than 400 highly-skilled jobs in Montreal’s technology sector, further enhancing our position as a leading center of creative talent and game design.”
THQ is currently evaluating locations for the new facility and expects to open the studio by mid-2010. THQ Montreal will be the company’s second fully operational development and production studio in Canada. THQ’s global system currently includes more than 1,200 people located in North America, the United Kingdom and Australia.
Interested applicants may send their resumes to THQ Montreal at: Montrealcareers@thq.com.
THQ Inc. (NASDAQ: THQI) 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. 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 www.thq.com and www.thqwireless.com. THQ and its respective logo are trademarks and/or registered trademarks of THQ Inc.
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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 for THQ Montreal, including expected job creation and development plans for the studio, 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 Quarterly Reports on Form 10-Q and Annual Report on Form 10-K for the fiscal period ended March 31, 2009, and particularly the discussion of 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 the results of any revision to these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.