THQ AND ZUFFA ANNOUNCE TRANSFER OF ULTIMATE FIGHTING CHAMPIONSHIP
VIDEOGAME LICENSE AGREEMENT
AGOURA HILLS, Calif. & LAS VEGAS, Nev., June 4, 2012 - THQ Inc. (NASDAQ: THQI) and Zuffa, LLC, today announced that they have reached an agreement to transfer THQ's exclusive, worldwide license with Zuffa to publish videogames based on the Ultimate Fighting Championship® (UFC®) brand to Electronic Arts Inc. (NASDAQ: EA), effective today, in exchange for an undisclosed cash payment to THQ.
"Over the last three years, THQ has delivered best-in-class, all-encompassing experiences to MMA fans, sports enthusiasts and fighting gamers around the globe with its UFC UndisputedTM series. We want to thank them for their stewardship of our brand," said Lorenzo Fertitta, Chairman and CEO of Zuffa. "We look forward to joining forces with EA to leverage their sports platform, and expand our brand in the video game space."
Brian Farrell, THQ's Chairman and CEO, commented, "We have relished our relationship with UFC over the last several years and believe that the UFC gaming brand is in great shape. THQ's more focused strategy moving forward meant that transferring the license to EA made sense to all parties. We would like to thank UFC for their great support and partnership and wish EA all the best moving forward."