Krafton, the publisher behind the popular battle royale game PUBG, has officially acquired Tango Gameworks and the Hi-Fi Rush intellectual property (IP) from Xbox, ensuring the continued development and future of the game studio.
This acquisition comes as a relief to both developers and fans, as it was previously announced in May 2024 that Microsoft Corp. (NASDAQ:MSFT) had decided to close several Bethesda studios, including Tango Gameworks.
The deal was confirmed in a press release where Krafton stated: "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 acquisition not only saves the studio from closure but also breathes new life into its projects, particularly the Hi-Fi Rush IP, which has garnered a strong following since its release.
"Krafton intends to support the Tango Gameworks team to continue its commitment to innovation and delivering fresh and exciting experiences for fans," the press release said.
Moreover, Krafton assured that there would be no impact on the existing game catalog of The Evil Within, The Evil Within 2, Ghostwire: Tokyo, and the original Hi-Fi Rush game, all of which remain significant to the studio's legacy.
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Photo: Courtesy of Tango Gameworks via Steam.