Publisher THQ has sold its mobile division, according to published reports this morning. THQ Wireless, the division launched in 2001 to tackle the lucrative mobile games market, has been sold off to advertising and distribution firm 24MAS. Stockholm-based 24MAS is an advertising and 'premium applications' company serving customers in over 80 countries via a proprietary software platform.
THQ says that the sale of the division does not mean an exit from the mobile market: "This agreement and our ongoing relationship with 24MAS will enable us to continue focusing on cutting edge games for Apple and emerging smartphone platforms while enjoying the distribution services of 24MAS on wireless carrier platforms," said Ian Curran, THQ's executive vice president of Global Publishing.
"The acquisition and ongoing partnership with THQ means 24MAS will have an unparalleled reach to many millions of potential customers globally, both via/for application and content distribution, as well as mobile advertising solutions," said 24MAS CEO Tero Turunen. "THQ Wireless' operations provide a value-add in terms of reach, services and technology, combined with proven management, operational excellence and revenue growth potential."
Financial terms of the deal were not disclosed.
THQ has been tightening its corporate belt this year. Prior to unloading its wireless division, THQ stepped out of the online games space.