Germany headquartered Koch Media has confirmed it has purchased the Saints Row and Metro IPs for a total of $28 million, calling the acquisition a 'perfect fit'.
Included in the deal is the purchase of Champaign, Illinois-based Volition - the developer of Saints Row, along with all distribution and publishing rights of titles such as Metro: Last Light and Saints Row 4.
The properties were sold during a closed-doors THQ bankruptcy auction, where the company was stripped of its assets and effectively has ceased business.
Koch Media, which in 2002 opened the Deep Silver game label, said the company will invest in "all further development and marketing on the Saints Row and Metro franchises".
Deep Silver's international commercial director, Menno van der Bil claimed the company's track record for delivering "out-of-the-ordinary games" made it a perfect fit for the THQ franchises.
"We're really excited to lead these well-respected licenses into a bright new future," he said in a statement. "We also welcome the legendary development studio Volition to the Koch Media/Deep Silver group.
"Deep Silver already has a track record for out-of-the-ordinary games, including the immensely successful Dead Island brand. Both the Saints Row and the Metro franchises perfectly fit into our future lineup and strategy."
Dr. Klemens Kundratitz, CEO of Koch Media GmbH, added: "Koch Media welcomes the addition of these magnificent franchises to the Koch Media family of entertainment properties.
"With more than 200 games on notable platforms globally, and its proven success creating renowned franchises like Dead Island, Deep Silver is perfectly positioned to lead these brands into the next generation of interactive entertainment for fans around the world."
After two years of battling against the tide, in December THQ declared itself bankrupt and was told its assets would be sold at auction.
On Wednesday, the results of that auction were disclosed for the first time:
- Sega agreed to purchase Relic
- Koch Media agreed to purchase Volition and Metro
- Crytek agreed to purchase Homefront
- Take 2 agreed to purchase Evolve - Turtle Rock's new games project
- Ubisoft agreed to purchase Montreal and South Park
Some assets, including THQ's publishing businesses, various intellectual properties and Vigil are not included in the sale agreements, although informal interest has been shown by Platinum Games for the Darksiders studio.
THQ said it will continue trying to sell the remaining assets.