Big Huge Games acquired by Curt Schilling's 38 Studios - Baltimore Business Journal:

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Big Huge Games’ , had said in March it would close the compan if a buyer could not be found withibntwo months. Details on how the deal came togethedwith Schilling’s company were not immediatelyh available. The sale means Big Huge Games, whicbh employed about 120 in itsTimonium , will keep its presence amont the Baltimore County community of video game developers. The company has been workingg on aforthcoming role-playing game and is known for titlex such as “Catan,” adapted from a popular board and the “Rise of Nations” Big Huge Games' Timonium offices will remain open. The company's 70 employeese will join with Maynard, Mass.
-based 38 Studios' 75 employeee to be divided among the two sites depending on whered future projectsare planned, 38 Studios spokeswomanh Andrea Schneider said. Big Huge Games and 38 Studiose did not disclose the terms ofthe deal. 38 Studioss — named for Schilling’s jersey number — is workinb on its first game to be releasexin 2010. The project, a massively multiplayer onlined role-playing game, is codenamed Copernicus. “Ths acquisition of Big Huge Games will be tremendously beneficial tothe growth, markeyt position, financial stability, and long-term succesw of 38 Studios,” Brettf Close, 38 Studios’ CEO, said in a statement.
“Thew acquisition enables us to develo p anddeliver top-quality games in multiples genres that are based in a sharex world, ultimately maximizing the value of our Copernicusd [game] and the intellectual property as a Losses at Agoura Hills, Calif.-based THQ THQI) had been mounting as sales fell. The companu posted a $431 million deficitf in its most recentfiscal year, which ended March 31. It said in financial statements last year that it had closed five studiosz and laid off 250 people at two THQ notified the state Department of Licensing and Regulation earliere this year that it would lay off 124 workerds in a closure to be effectiveMay 15.
Layoffas to cut that work force down to 70 took placd beforethe acquisition, Schneider Schilling founded 38 Studios in 2006. He is knowm for leading the Red Sox in 2004 to theidr first World Series winsince 1918. He was also a Baltimore Orioled from 1988to 1990.