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April 25, 2012

Cosmi Software Acquires ValuSoft Division of THQ Inc.

Combination Creates the #1 U.S. Retail Publisher of Value Software in Unit Volume

WESTMINSTER, Calif.--(BUSINESS WIRE)--Cosmi, the 30-year value-priced consumer software pioneer, today announced the acquisition of Chaska, Minnesota-based ValuSoft, the PC value line of THQ Inc. The combination will make the new ValuSoft+Cosmi venture the second largest U.S. Retail Publisher of PC Games in units sold and the #1 Retail Publisher in the Value Software Category by units sold. The acquisition was consummated through the creation of ValuSoft Finance LLC, a sister company to Cosmi.

“We look forward to integrating ValuSoft’s catalog along with its sales, marketing and software development team to continue our growth in the 'Value' retail channel”

Well-known for its best-selling franchises, including 18 Wheels of Steel and Master Cook, ValuSoft is a global PC publisher and distributor of interactive entertainment and productivity software. Cosmi and ValuSoft together have dominated the value software category since 1997 and have expanded as global publishers, serving more than 25,000 retail outlets and numerous e-commerce sites.

As a developer and publisher, Cosmi has been credited with many industry innovations and design patents, including parallax scrolling screens, 3D animation, flight simulators, desktop publishing, packaging patents and more. With more than 100 million programs sold, Cosmi ranks as one of the premier gaming and productivity software companies in the world.

“We look forward to integrating ValuSoft’s catalog along with its sales, marketing and software development team to continue our growth in the 'Value' retail channel,” explained Edward O. Lanchantin, Cosmi President. “Adding ValuSoft gives us the significant size and scope to better meet the needs of our retailer network and customers.”

“THQ’s product strategy is aligned to create and market high-quality video games for both consoles and PCs. With the transition of the 'Value' PC business to Cosmi, our internal resources are now focused on our core video game portfolio where we can drive the highest quality performance and execution for our games. This shift also presents a great, new opportunity for ValuSoft and its broad portfolio of products,” said Brian Farrell, President and CEO, THQ Inc.

Financial terms of the agreement were not disclosed.

About Cosmi

For 30 years, Cosmi has been committed to delivering quality software for the home and office at a value price. Its extensive portfolio includes titles that span office, graphics, productivity, education, games, languages and utilities categories. The number one publisher in Productivity Software as tracked by NPD Techworld, Cosmi has grown its operations to provide superb products to more than 25,000 storefronts, including OfficeMax, Office Depot, Staples, Walmart, Best Buy, J&R and others, and expanded its reach to distribution centers throughout the United States, Canada, Great Britain, South America and Australia. For more information please visit www.cosmi.com.

About THQ

THQ Inc.(NASDAQ: THQI) is a leading worldwide developer and publisher of interactive entertainment software. The company develops its products for all popular game systems, personal computers, wireless devices and the Internet. Headquartered in Los Angeles County, California, THQ sells product through its global network of offices located throughout North America, Europe and Asia Pacific. More information about THQ and its products may be found at www.thq.com. THQ and its logo are trademarks and/or registered trademarks of THQ Inc. All other trademarks are the property of their respective owners.

NEWS SOURCE: http://www.businesswire.com/news/home/20120425005223/en/Cosmi-Software-Acquires-ValuSoft-Division-THQ