Krafton's recent acquisition of Tango Gameworks stems from a desire to innovate rather than merely recreate popular games
In a surprising move, Krafton, based in South Korea, stepped in to save Japan's Tango Gameworks this August after Microsoft's unexpected choice to close the studio. This acquisition includes the renowned Hi-Fi Rush, a rhythm action game boasting a BAFTA win and three million players.
While studio closures are common in the gaming industry, it's remarkable when a company not only revives a studio but also rehires its staff. With Krafton's acquisition, Tango Gameworks becomes part of a growing portfolio that spans twelve companies, such as PUBG Studios and Bluehole Studio.
Maria Park, Krafton's head of corporate development, discussed with GamesIndustry.biz the company's expansion strategy, which includes meeting with hundreds of potential development partners each quarter.
The acquisition of Tango Gameworks aims to broaden Krafton’s reach into Japan, building on the studio's inventive history. Krafton seeks to keep alive this legacy of creativity, despite the co-founder Shinji Mikami's exit. The intent is to continue Tango's projects with a team mostly intact, as 70 to 80 employees transition to Krafton by early next year.
Park emphasized the importance of fostering innovation and sharing success within the gaming development sector. The company values unique gameplay and supports creative teams, believing these are key to industry advancement.
Tango's Acquisition: The Story Behind the Integration
When Tango Gameworks was on the verge of closing down, Krafton quickly acted. Visiting Tokyo, Krafton was reassured by Tango's dedication and the impressive projects underway, even without Mikami. Krafton committed to preserving Tango’s collective spirit by bringing most of the team onboard.
Beyond employee transfers, Krafton's discussions with Microsoft aim to secure further IP rights, reflecting a rare opportunity as Microsoft typically retains IPs after studio closures.
Krafton's Japanese Market Ambitions
With Tango as its first significant entry into Japan's gaming landscape, Krafton seeks more opportunities within the region. The company's strategy prefers studios fueled by creative vision rather than strictly financial success. Ongoing negotiations with other Japanese developers reflect this measured and cautious expansion.
"We have been looking into the Japanese market quite seriously since last year. It was hard to find small to medium-sized studios who are in pursuit of their own titles. This was one of the rare opportunities"
Future Plans for Hi-Fi Rush
Hi-Fi Rush, a key part of Krafton's venture, has significant plans under Krafton’s guidance. There’s discussion of bringing this title to platforms like the Nintendo Switch and developing additional content. Krafton's acquisition strategy places Hi-Fi Rush at the forefront, but the company will continue to explore new possibilities.
The studio’s work on Hi-Fi Rush 2 will ensure it aligns with fans’ elevated expectations, featuring potentially more open environments and enhanced technology synchronizing its rhythm gameplay.
Krafton's Long-term Vision with Tango
While recognizing Tango’s previous success in narrative-driven games, Krafton plans to incorporate its experience in multiplayer and live services to broaden Tango's market reach. Tango’s aspirations for new multiplayer ventures will benefit from Krafton’s technological and operational expertise.
Ultimately, Krafton envisions Tango continuing its tradition of innovation, with assurances of creative freedom to develop games that captivate players. By nurturing this talent, Krafton aims for Tango to thrive within the global gaming sector.
