Insane, a game developed in collaboration with Guillermo del Toro was announced at 2010 Spike Video Game Awards but Volition's version of the game was cancelled in 2012. del Toro has since announced that Insane is still currently in development from an as of yet undisclosed developer.
When THQ filed for bankruptcy, a number of companies showed interest in the assets of THQ. General manager of Volition Inc., Dan Cermak said that Warner Bros., Electronic Arts, Take-Two, Ubisoft, Deep Silver, and an unnamed group from Chicago undertook site visits in the weeks preceding the sale. Eventually, Volition was acquired by Koch Media for 22.3 million USD.. Thr only other bid was 5.4 million USD by Ubisoft.
Volition was the second most expensive THQ asset sold during the auction (after Relic Entertainment). The price was understood to be largely due to thr success of games such as Saints Row: The Third, which by early 2012 had sold around 4 million copies. THQ also claimed that the game's downloadable content packages were performing much better than anticipated.
As part of THQ's bankruptcy in January 2013, Volition Inc and the Saints Row franchise were acquired by Koch Media, with future titles being published under its Deep Silver brand. Volition's Red Faction and Summoner franchises were not acquired with the company by Deep Silver, instead being acquired by video game publisher and developer Nordic Games.