Krafton acquires Tango Gameworks and Hi-Fi Rush IP from Xbox
Microsoft previously announced plans to close the Japanese studio in May
PUBG publisher Krafton has acquired Tango Gameworks and the Hi-Fi Rush IP from Xbox as part of a 'strategic agreement'.
The firm says it is working with Xbox to enable a 'smooth transition' so that the Tango team can "continue developing the Hi-Fi Rush IP and explore future projects".
Tango Gameworks was one of four Bethesda studios that Microsoft announced plans to shut down back in May. It was formed by Resident Evil creator Shinji Mikami in 2010, and was responsible for The Evil Within, The Evil Within 2 and Ghostwire Tokyo, before launching Hi-Fi Rush in 2023 to critical acclaim. Xbox acquired the studio in 2021 as part of its $7.5 billion purchase of Bethesda parent company Zenimax.
Despite the critical success, Microsoft announced it would be closing Tango Gameworks as part of efforts to focus on "high-impact titles". It also announced closures for Redfall developer Arkane Austin, Mighty Doom studio Alpha Dog and Roundhouse Games.
Krafton said that the acquisition will have no impact on the availability of Tango's previous releases, and that they will remain available where they are currently.
The firm said in a statement: "This integration reinforces Krafton's dedication to expanding its global footprint and enhancing its portfolio with innovative and high-quality content. The addition of Tango Gameworks represents a strategic alignment with Krafton's mission to push the boundaries of interactive entertainment."
Krafton is a South Korean publisher that's best known for publishing the hit PUBG: Battlegrounds, TERA and The Callisto Protocol. Its portfolio of studios includes Bluehole, PUBG Studios, Striking Distance, Neon Giant and more.
No details on the transaction were shared. The deal comes a month after Tango Gameworks staff posted pictures from the studio's final day.