Krafton did not reveal any financial details about the deal but said it would work with Xbox and ZeniMax to ensure a smooth transfer of ownership.
Hi-Fi Rush is a rhythm-based action-adventure title
Photo Credit: Tango Gameworks
Microsoft shut down Hi-Fi Rush developer Tango Gameworks, alongside a few other Bethesda-owned studios, in May to shift focus on to its “priority games.” Tango had at the time confirmed its closure, but the Japanese studio has now been acquired by Krafton and will remain open. The South Korean publisher announced Monday that it had integrated Tango Gameworks into its team, marking its “first significant investment in the Japanese video game market.” The deal also includes the intellectual property rights to Hi-Fi Rush, the acclaimed rhythm-based action game from Tango.
Krafton did not reveal any financial details about the deal but said that it would work with Xbox and Bethesda parent ZeniMax to ensure a smooth transfer of ownership. The PUBG: Battlegrounds publisher also confirmed that it would allow Tango Gameworks to further develop the Hi-Fi Rush IP, hinting at possible sequels.
“As part of this strategic agreement, KRAFTON intends to collaborate with Xbox and ZeniMax to ensure a smooth transition and maintain continuity at Tango Gameworks, allowing the talented team to continue developing the Hi-Fi RUSH IP and explore future projects,” the company said in a press release. “KRAFTON intends to support the Tango Gameworks team to continue its commitment to innovation and delivering fresh and exciting experiences for fans,” it added.
The publisher said that Tango's existing catalogue of games like The Evil Within, The Evil Within 2, Ghostwire: Tokyo and Hi-Fi Rush will not be impacted by the acquisition.
The deal represents Krafton's first major investment in the Japanese video game market. The company owns several internation game studios and has acquired developers like Neon Giant and Unknown Worlds Entertainment in recent years. "This integration reinforces KRAFTON's dedication to expanding its global footprint and enhancing its portfolio with innovative and high-quality content,” Krafton said about its latest acquisition.
Tango Gameworks was founded by Capcom veteran Shinji Mikami in 2010 and was acquired by ZeniMax Media the same year. The company joined Microsoft's portfolio of game studios when the Xbox parent acquired ZeniMax in 2021.
Earlier this year in May, Microsoft announced it was shutting down several Bethesda-owned game studios, including Tango Gameworks and Redfall maker Arkane Austin. The axe fell on Tango despite the critical success of its latest game, Hi-Fi Rush.
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