THQ Spends More Than $10 Million for Relic

GameSpot is reporting that:

“In documents filed this week with the Securities and Exchange Commission, THQ noted the price paid to acquire Vancouver-based Relic Entertainment. The publisher says it tendered a cash payment of $6 million to Relic’s owners during the most recent April-June quarter, with another $4 million and change to follow over the next two years.

THQ, which announced the purchase in April, broke down the price as follows: $547,000 in tangible assets, $1.3 million in intangible assets, and $8.85 million in goodwill. THQ also assumed $517,000 in debt that Relic carried.

Relic founder Alex Garden revealed to GameSpot in an earlier interview that total costs to start up the company were $5,000.
News source: Gamespot

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