THQI still looks, to me, poised to break higher. Today it did break higher early but the gains faded into the close. The current moves of the stock are just, in my view, consolidation for a bigger move that will take the stock to $1 and a test of the 50 day moving average.
Earnings are coming on May 15th. That may be an impetus for the stock to mover higher as well.
Latest news from THQI:
WESTMINSTER, Calif., Apr 25, 2012 (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. 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.
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