THQ Inc. announced on Tuesday that it has opened
a new office in Shanghai as part of an effort to aggressively expand its business in China. The new office will build on existing partnerships and seek new alliances to capitalize on the booming gaming market. Tim Page, market development director for THQ Asia Pacific, will lead
efforts to establish local publishing partnerships and bring THQ online content to other markets around the world.
China's fast-growing online games market was valued at $1.7 billion in
2007 and reached more than 42 million online gamers. The market is
expected to grow to $4.2 billion by 2010 (Source: Niko Partners).
Later this fiscal year, THQ will launch "Company of Heroes Online," a
free game designed specifically for Asia, in collaboration with its
China publishing partner Shanda Interactive Entertainment Ltd.
The publisher of Disney and WWE games has been looking for ways to rebound after seeing its stock drop over the past year. In April, THQ chief executive Brian Farrell told Reuters the company was open to acquisitions but that
M&A was not required for growth. As Matthew Wurtzel reported on our sister blog Dealscape, that's probably a good thing, considering there
aren't many substantial targets left.
THQ got a boost on Tuesday, when
the Connecticut Superior Court sided with the company in its dispute with Worldwide Wrestling Entertainment. WWE had sued THQ and its joint venture partner Jakks Pacific over worldwide rights to publish and market WWE video games. -
Baz HiralalTHQ Expands Publishing and Development Activities in AsiaTHQ announces Dismissal of Most WWE Claims
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