THQ acquires Rainbow Studios
THQ Inc. announced today the acquisition of Rainbow Studios, a developer of digital entertainment. The deal is said to further strengthen THQ’s internal development capabilities and will aid in their production of content for next-generation consoles. Current projects in development for Rainbow Studios include Activision’s Matt Hoffman’s Pro BMX, Lucas Arts’ Star Wars Racer II: Racer Revenge, and Infogrames’ Splashdown, all for the PS2.
“For the past fifteen years, the team at Rainbow Studios has consistently delivered the best in interactive entertainment through every technology wave,” stated Brian Farrell, President and CEO, THQ. “This acquisition helps position THQ at the leading edge of content creation with unparalleled internal development talent.”
“We are delighted to be a part of such a thriving videogame publisher at the onset of tremendous growth for our industry,” stated Earl Jarred, Chairman, Rainbow Studios. “Our single greatest achievement through the years has to be the amazing talent we have assembled from all corners of the globe. I am delighted that they will now have even greater opportunities to succeed with the added strength and support of THQ behind them. I would like to thank our friends at the William Morris Agency for providing the introduction of Rainbow to THQ.”
“Rainbow will be a great addition to our internal studio roster,” stated Jeff Lapin, Vice Chairman and COO, THQ. “Their proven ability to create original franchise properties will be invaluable to our next-generation console strategy.”
“We look forward to being a part of THQ’s continued success,” stated Mark DeSimone, President, Games, Rainbow Studios. “We have a very talented and dedicated team at Rainbow Studios, and feel that our development culture matches very well with the team at THQ. Our technology, expertise and passion for games, combined with THQ’s marketing and distribution will make for a winning combination in this generation of consoles and beyond.”
11/7/2001 Matt Stensrud