| Press Release |
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Asam Ahmad Senior PR Manager, THQ asam@thq.com T: +44 1483 767656 F: +44 1483 770727 |
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Mary Nelson Garrett Investor Relations, THQ T: +1 818 871 5090 |
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Volition, Inc., located in Champaign, Illinois, is a leading high technology game developer for next-generation console systems and PC. A spin-off of Parallax Software Corporation, the Volition team is best known for the top-selling, critically acclaimed Descent and Freespace PC game franchises. Led by industry veteran, Mike Kulas, who will continue to manage Volition as its president, Volition will contribute significantly to THQ’s PlayStation 2, X-Box and PC product lines.
Volition is currently working with THQ to develop Summoner and Red Faction for release on both the PlayStation 2 Computer Entertainment System and PC. THQ will release Summoner for PlayStation 2 in fall 2000 and PC in the first quarter of 2001. Red Faction for PlayStation 2 and PC is scheduled for release in 2001.
In connection with this transaction, THQ subsequently will acquire Volition’s matching service, Parallax Online, which offers support for Volition’s current and future games.
“Volition is a strategic addition to THQ’s business,” stated Brian Farrell, president and CEO, THQ. “Their technological capability and creative talent have brought about some of the most original, innovative gameplay in the industry. We look forward to the PlayStation 2 and PC launches of Summoner and Red Faction and many more contributions from the Volition teams.”
“We have worked as a developer with THQ for a long time and we know this will be a perfect fit,” said Michael Kulas, president, Volition, Inc. “THQ has great people who understand the creative process and we look forward to developing many great games with them.”
Volition, Inc., which includes many of the founders of Parallax Software Corporation, develops cutting-edge original content for major console systems and PC. For more information on Volition and games currently in development by Volition, visit www.volition-inc.com.
THQ Inc. develops, publishes and distributes interactive entertainment software for a variety of hardware platforms including PC CD-ROM, and those manufactured by Sega, Microsoft, Nintendo and Sony. The THQ Web site is located at www.thq.com.
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This press release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors including those described above and the following: changes in demand for the Company's products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing and difficulties encountered in the integration of acquired businesses. In addition, such statements could be affected by growth rates and market conditions relating to the interactive software industry and general domestic and international economic conditions. Specific information concerning these and other such factors is contained in the Company's most recent report on Form 8-K, filed with the Securities Exchange Commission on November 13, 2000. A copy of this filing may be obtained by contacting the Company or the SEC. The forward-looking statements contained herein speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.