THQ's most valuable assets have been auctioned off to the highest bidder, meaning the publisher's hope of continuing are over.

Here's where THQ's assets have ended up:

Relic Entertainment, makers of Company of Heroes sold to SEGA for $26.6 million. Zenimax Media is the backup bidder at $26.3 million.

THQ Montreal, makers of 1666 and Underdog, titles under development, sold to Ubisoft for $2.5 million. No runner-up.

Evolve, a title in development at Turtle Rock Studios, sold to Take-Two Interactive for $10.894 million. Turtle Rock Studios was the backup at only $250,000.

Volition, Inc., maker of Saints Row (includes work done by High Voltage on Saints Row 4), sold to Koch Media/Deep Silver for $22,312,925. Ubisoft was the backup bid at $5.4 million.

Homefront which has a sequel in development at Crytek, was sold to Crytek for $544,218.

Metro, the sequel Last Light is due for release, was sold to Koch Media/Deep Silver for $5,877,551. Ubisoft was the backup at $5.175 million.

South Park, which includes the license and The Stick of Truth, was sold to Ubisoft for $3,265,306.

Somewhat unexpectedly there was no bidder for Darksiders developer Vigil and the IP, but it could be sold in the coming weeks.

"Some assets, including our publishing businesses and Vigil, along with some other intellectual properties are not included in the sale agreements. They will remain part of the Chapter 11 case. We will make every effort to find appropriate buyers, if possible," wrote CEO Brian Farrell and president Jason Rubin in a letter sent to THQ's former employees.

"If you are an employee of an entity that is not included in the sale [i.e. Vigil], we regret that your position will end. A small number of our headquarters staff will continue to be employed by THQ beyond 25th January to assist with the transition. THQ has sufficient resources to pay these employees for work going forward, and we will be contacting these employees immediately to ensure their continued employment during this transition period. We are requesting the ability to offer certain severance pay to minimise disruption for employees of non-included entities as they determine the next steps in their careers."

The letter closed on a more personal note: "The work that you all have done as part of the THQ family is imaginative, creative, artistic and highly valued by our loyal gamers. We are proud of what we have accomplished despite today's outcome.

"It has been our privilege to work alongside the entire THQ team. While the company will cease to exist, we are heartened that the majority of our studios and games will continue under new ownership. We were hoping that the entire company would remain intact, but we expect to hear good news from each of the separate entities that will be operating as part of new organizations.

"For those THQ employees who are part of entities that are not included in the sale, we are confident that the talent you have displayed as part of THQ will be recognized as you take the next steps in your career.

"Thank you all for your dedication and for sharing your talent with the THQ team. We wish you the best of luck and hope you will keep in touch."

Regarding WWE, it would appear that the franchise has been snapped up by Take Two, with IGN reporting that negotiations took place outside of the auction process.

Source: Kotaku