DreamWorks Animation SKG Inc. and video game developer THQ Inc. said Wednesday that they had signed a multi-year licensing deal covering three Dreamworks animation franchises.
Under the agreement, Agoura Hills’ THQ will publish a game based the TV show “Penguins of Madagascar” after THQ’s fiscal year begins in April. That will be followed in 2011 by games based on the Kung Fu Panda sequel, “Kaboom of Doom,” and the Shrek spinoff, “Puss in Boots.”
The companies already have an agreement covering Glendale-based DreamWorks Animation’s “MegaMind.” Games will be developed for a variety of console and handheld systems, including Xbox Live Arcade, PlayStation Network and Nintendo Wii Virtual Console, and wireless devices.
"We are pleased to expand our relationship with THQ and continue to be impressed by their focus on the kids and family videogame business," Kerry Phelan, head of DreamWorks Animation’s worldwide consumer products, said in a statement.
DreamWorks Animation has seen good revenue from earlier game tie-in deals with Santa Monica’s Activision Blizzard Inc., reporting $24 million in game licensing revenue in its second quarter.
THQ shares were up 4 cents, or 1 percent, to $5.02 in midday trading on Nasdaq. Dreamworks Animation, which also benefited from an analyst’s upgrade, was up $2.18, or 6 percent, to $36.78 on Nasdaq.
DreamWorks Animation should get a boost next year from the upcoming 3-D film "How to Train Your Dragon," said Tony Wible, a Janney Montgomery Scott analyst who upgraded shares from "neutral” to “buy” after attending a screening.
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