SEGA has agreed to purchase Relic, developer of Company of Heroes 2 and Warhammer 40,000: Dawn of War.

Koch Media (owner of Dead Island publisher Deep Silver) has agreed to purchase Saints Row developer Volition as well as the publishing rights to the Metro franchise. (Update: According to a statement issued by Koch, "Deep Silver, Koch Media’s international publishing powerhouse, will lead all further development and marketing on the Saints Row and Metro franchises." The statement added that "Koch Media and Deep Silver will roll out future plans for each franchise in the coming months.")

Crytek, who is currently developingHomefront 2, has purchased the rights to the Homefront franchise.

Take-Two (parent company of 2K and Rockstar) has agreed to purchaseTurtle Rock Studios’ project codenamed Evolve. (Update:While Take Two was initially rumored to have acquired Darksiders publisher Vigil, it has since been revealed that this isn't the case)
Ubisoft has purchased the rights to publishSouth Park: The Stick of Truthas well as THQ Montreal, the current developer ofAssassin’s Creed creator Patrice Desilets’ project codenamed 1666. (Update:Ubisoft has confirmed the purchase, noting in a statement that "THQ Montreal will join

Ubisoft’s development teams." Ubisoft also says thatSouth Park: The Stick of Truth"is scheduled for release in calendar 2013.")
Koch Media (owner of Dead Island publisher Deep Silver) has agreed to purchase Saints Row developer Volition as well as the publishing rights to the Metro franchise. (Update:According to a statement issued by Koch, "Deep Silver, Koch Media’s international publishing powerhouse, will lead all further development and marketing on the Saints Row and Metro franchises." The statement added that "Koch Media and Deep Silver will roll out future plans for each franchise in the coming months.")

Crytek, who is currently developingHomefront 2, has purchased the rights to the Homefront franchise.

Take-Two (parent company of 2K and Rockstar) has agreed to purchaseTurtle Rock Studios’ project codenamed Evolve. (Update: While Take Two was initially rumored to have acquired Darksiders publisher Vigil, it has since been revealed that this isn't the case)
Ubisoft has purchased the rights to publishSouth Park: The Stick of Truthas well as THQ Montreal, the current developer ofAssassin’s Creed creator Patrice Desilets’ project codenamed 1666. (Update:Ubisoft has confirmed the purchase, noting in a statement that "THQ Montreal will join Ubisoft’s development teams." Ubisoft also says thatSouth Park: The Stick of Truth"is scheduled for release in calendar 2013.")

According to Distressed Debt Investing, Ubisoft paid $3.2 million for South Park and $2.5 million for THQ Montreal, Koch Media paid $5.8 million for Metro and $22.3 million for Volition and Crytek paid $500,000 for Homefront. No bids were placed for Vigil.

Polygon reports that SEGA bid $26.6 million for Relic, and a second-place bid came from Bethesda parent company ZeniMax Media, who offered $26.3 million. The site also reports that Take-Two paid $10.8 million for Evolve, with a second place bid for $250,000 coming from Turtle Rock itself.

Many THQ employees, meanwhile, report having lost their jobs via social networks.

Assets including Darksiders studio Vigil and have not been acquired. The future home of the WWE franchise has yet to be disclosed.

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Update from IGN:

The U.S. bankruptcy court has now "granted a motion to approve a sale of the majority of THQ’s assets to multiple buyers." The court is expected to formally approve the sale tomorrow. Based on bids received (and detailed below), THQ notes that "the THQ estate will receive approximately $72 million, making the total estimated value of the estate $100 million including certain assets and other intellectual properties which were excluded from the sale."

"While we had hoped that the restructuring process would allow the company to remain intact, I am heartened that the majority of our studios and games will continue under new ownership," said THQ CEO Brian Farrell. "It has been my pleasure to work alongside this great group of people, and I am proud of the imaginative and artistic games that our team has created. Although we will no longer be able to work together with a unified mission, I am confident that the talent we have assembled will continue to make an impression on the video game industry. For those whose positions are not likely to continue, I sincerely regret this outcome and we will be meeting with you over the next few days to discuss the transition."

"I was brought in eight months ago to help turn this ship around, and while I’m disappointed that we could not effect a sale for the entire operating business, I am pleased that the new buyers will be providing jobs to many of our very talented personnel," added THQ president Jason Rubin. "When we first announced the sale process, I said I would be happy if the company’s games and people had a bright future, even if it meant I did not have a job at the end of it. And I still feel that way.”

THQ "will continue to employ a small number of headquarters staff beyond January 25 to assist with the transition."