THQ acquires Rainbow studios

THQ pips all the rest to the post in race to snap up Rinbow

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THQ acquires Rainbow studios
THQ has announced that it has fully acquired Phoenix, Arizona-based Rainbow Studios, and will be merging the company as an internal development studio. Rainbow is responsible for games such as Star Wars Revenge Racer, Matt Hoffman?s Pro BMX and many other projects for a variety of publishers.

THQ will take some pleasure in announcing this to the industry. Rainbow has been commissioned by some of the world?s leading publishers over the past few years including Activision, Acclaim, Infogrammes and LucasArts and a possible buy out by one of them has been rumoured for some time.

"We are delighted to be a part of such a thriving video game publisher at the onset of tremendous growth for our industry," said Earl Jarred, Chairman at 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."

No initial project has been named by either company to kick off the relationship, but THQ is expected to use Rainbow Studios? expertise in making motocross games to consolidate its own offering in the genre.

"Rainbow will be a great addition to our internal studio roster," stated Jeff Lapin, of THQ. "Their proven ability to create original franchise properties will be invaluable to our next-generation console strategy."
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