THQ will open the vast toy chest of Mattel, Inc., to develop and publish video games under a new, multi-year alliance.

Extending deep into Mattel’s broad portfolio of popular brands, the agreement with Mattel builds on THQ’s strength in kids and family games. Partnering with Mattel,, THQ plans to produce and distribute video games based on Barbie, Hot Wheels and Fisher-Price. The companies will also collaborate to expand the video game and interactive potential of newer properties such as Monster High and longtime Mattel favorites such as Rock ‘Em Sock ‘Em, Masters of the Universe, Polly Pocket and others.

The multi-platform deal will focus on THQ designing, developing and marketing games for consoles and handheld systems; personal computers; mobile devices and social networks; and popular online gaming portals such as Xbox Live Arcade, Playstation Network and Nintendo WiiWare Network.

THQ also plans to bring Mattel’s brands to its popular uDraw GameTablet, a new accessory launched just prior to the holidays that quickly became one of the season’s most sought-after gifts. Pictionary, one of the first titles for the uDraw GameTablet, and based on the popular Mattel game, showcases the technological and creative potential of the new relationship – and the opportunities to combine world-renowned brands with new concepts in digital entertainment.

THQ and El Segundo, Calif.-based Mattel are already in the development stage on multiple games, the first of which are scheduled for release later this year. Details of these titles will be formally announced in the coming months.