THQ Inc. is acquiring GameFX Inc., a developer of "interactive entertainment software utilizing proprietary 3D acceleration technology," according to an announcement THQ made yesterday.
THQ will hand out 250,000 shares of its common stock and US$600,000 in cash to close the deal, which is subject to approval by THQ's board of directors.
Current GameFX president C. Noah Davis will continue to head the GameFX studio; his new title will be chief technology officer at THQ. Davis serves on the technology advisory board of the 3D chip technology company 3Dfx Interactive Inc. and also as an adviser to Intel Corp. on matters of 3D technology and interactive entertainment.
Brian J. Farrell, president and CEO of THQ, said, "GameFX fills two key strategic goals for THQ, giving us ownership of a core technology in 3D acceleration and a team of developers capable of making cutting-edge products at the high end of the PC game market."
The first of those projects, space-combat game Out of the Void, is currently under development by GameFX.
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