THQ Sells Off Wireless Division
THQ's lately touted something of a paradigm shift in its business, sloughing off old strategies that no longer serve it in favor of a more measured presence in the family market and a stronger core focus. Apparently maintaining its low-end cellphone gaming segment is another initiative the company no longer needs.
While it'll concentrate on Apple's iOS and other smartphone platforms, the company has sold its cellphone gaming-related "wireless operations and global carrier business" to Sweden-headquartered mobile advertising and content distributor 24MAS, which will provide THQ as well as third-party branded content to the over 80 countries in its network.
Recently, 24MAS also announced campaigns with Samsung, Olay and Malaysia Airlines, and will incorporate THQ's existing carrier distribution contracts into its strategy of mobile advertising, cloud services, applications hosting and various types of content distribution.
"THQ Wireless' operations provide a value-add in terms of reach, services and technology, combined with proven management, operational excellence and revenue growth potential," says 24MAS CEO Tero Terunen.
THQ emphasizes that it will maintain an ongoing relationship with 24MAS, and that the deal simply enables them to focus better on iOS and other smartphone platforms "while enjoying the distribution services of 24MAS on wireless carrier platforms," as THQ global publishing EVP Ian Curran explains.
"The combination of advertising and paid content solutions also enables us to maximize THQ's intellectual property in emerging markets," Curran adds.