Krafton has completed the acquisition of Tango Gameworks along with the intellectual property for Hi-Fi Rush from Xbox
Krafton, the publisher behind PUBG, has secured a deal to acquire Tango Gameworks along with the Hi-Fi Rush intellectual property from Xbox as part of a "strategic agreement."
In a statement, Krafton noted its efforts to work closely with Xbox to facilitate a "smooth transition," allowing the Tango team to persist in the development of Hi-Fi Rush and to seek new project opportunities.
Tango Gameworks was one of four Bethesda studios identified by Microsoft in May for closure plans. The studio, founded by Resident Evil creator Shinji Mikami in 2010, garnered attention for titles such as The Evil Within, The Evil Within 2, and Ghostwire Tokyo, with the recent release of Hi-Fi Rush in 2023 receiving critical praise. Xbox had previously acquired the studio in 2021 as part of its $7.5 billion acquisition of Zenimax, the parent company of Bethesda.
Despite the studio's recent successes, Microsoft announced the pending closure of Tango Gameworks as part of its shift to concentrate on "high-impact titles," which will also affect the developer of Redfall, Arkane Austin, along with teams at Alpha Dog and Roundhouse Games.
Krafton assured that this acquisition would not affect the availability of Tango's earlier titles, which will continue to be accessible on their current platforms.
"This integration highlights Krafton's commitment to enhancing its global presence and enriching its portfolio with innovative and high-quality content," the company stated. "Adding Tango Gameworks aligns strategically with our aim to challenge the limits of interactive entertainment."
Krafton is a South Korean publisher renowned for its successful titles like PUBG: Battlegrounds, TERA, and The Callisto Protocol. Its roster includes developers such as Bluehole, PUBG Studios, Striking Distance, and Neon Giant, among others.
No specifics regarding the acquisition deal were disclosed. This announcement follows a recent event where Tango Gameworks employees shared images commemorating their last day at the studio.
