24MAS acquires THQ ‘s mobile games division

Tuesday, 8 February 2011 17:48 GMT By Stephany Nunneley

THQ has sold its mobile gaming division to 24MAS, an advertising and distribution firm in Stockholm. The new relationship will allow THQ to continue “focusing on cutting edge games for Apple and emerging smartphone platforms, while “while enjoying the distribution services of 24MAS on wireless carrier platforms.”

“The combination of advertising and paid content solutions also enables us to maximize THQ’s intellectual property in emerging markets,” said THQ’s executive vice president of Global Publishing, Ian Curran.

During the last nine months of 2010, THQ Wireless contributed $4.8 million, or 0.9 percent of the publisher’s revenues which is down 1.3 percent from the prior year’s $9.2 million.

24MAS has customers in over 80 countries, and thanks to the acquisition, it now has headquarters in Asia-Pacific, Europe, Latin America, and the US.

The purchase price was not disclosed.

Thanks, GI.biz.