Krafton acquires Tango Gameworks, saving the studio from closure.Krafton Inc. has acquired Tango Gameworks, the developer behind the popular Hi-Fi Rush game, rescuing it from shutting down. The acquisition deal gives Krafton ownership over the intellectual property for Hi-Fi Rush but excludes other titles in Tango’s catalog like Ghostwire Tokyo and The Evil Within.
Earlier this year, Microsoft announced it would be shutting down Arkane Austin and Japan-based Tango Gameworks as part of an organization-wide restructure. Shutting down its only Japanese studio was widely criticized given the success of Hi-Fi Rush IP. Under new ownership with Krafton, Tango Gameworks will continue working on new projects.
Krafton acquires Tango Gameworks and Hi-Fi Rush franchise from Microsoft
— Game Developer (@gamedevdotcom) August 12, 2024
The deal will enable Tango to continue developing the Hi-Fi Rush series while exploring 'future projects.'https://t.co/5fjVnRMKUf pic.twitter.com/TCXGQCl8mW
Krafton makes a bold move into Japan’s gaming industry
The acquisition of Tango Gameworks represents a large expansion into the Japanese gaming market for the company. The deal includes the studio itself and rights to Hi-Fi Rush, which Microsoft has previously called one of Bethesda’s most successful launches on Xbox in recent years. However, despite its achievements the studio was facing closure because of internal changes within Microsoft.
In a statement on Windows Central, Krafton welcomed aboard the team at Tango Gameworks and underlined that this acquisition is strategic as it looks to fortify its global expansion efforts. This marks the company’s first major investment within Japan and forms part of its wider plans to diversify its portfolio while also strengthening it at the same time.
Microsoft also issued a statement saying that they will be cooperating with Krafton so that development work at Tango Gameworks can continue smoothly. Several existing games belonging to Tango will stay with Microsoft who vowed not to let them be impacted.
Hi-Fi Rush sequel gains momentum under new ownership
Krafton’s acquisition of Tango has sparked rumors about a possible sequel to Hi-Fi Rush. This third-person rhythm brawler won critical acclaim for its unique gameplay and quickly became a fan favorite. Now under the control of Krafton, hopes of seeing Hi-Fi Rush 2 developed have been rekindled among fans who thought that closing down the studio would mean an end to the franchise.
Now that Hi-Fi Rush and Tango Gameworks are part of Krafton’s lineup, other games created by the studio like The Evil Within or Ghostwire Tokyo are not included in this deal. These titles will remain owned by Microsoft which separates them from any new direction taken by Tango Gameworks under Krafton.
Krafton’s takeover of Tango Gameworks marks a rare occasion where a studio is saved from closure in an industry characterized by large-scale staff cuts and company shutdowns.
