Krafton Inc, the publisher behind the globally successful battle royale game PlayerUnknown’s Battlegrounds (PUBG), has acquired Tokyo-based studio Tango Gameworks and its intellectual property Hi-Fi Rush. The move comes after Microsoft announced plans to close Tango Gameworks as part of a cost-cutting initiative. Krafton’s acquisition will transfer approximately 50 development staff from Tango Gameworks to its Japan subsidiary.
These staff members will continue working on new projects, including the expansion of the Hi-Fi Rush IP. The transfer follows the effective acquisition date of August 1st. During an earnings call, Krafton’s chief financial officer, Dongkeun Bae, described the deal as an “acqui-hire,” indicating the company’s intention to inherit the entire development team.
However, a traditional acquisition was not feasible due to existing circumstances. Tango Gameworks, founded by Shinji Mikami in 2010, is known for its work on the Evil Within series.
Krafton expands with Tango team
The studio was initially acquired by Bethesda’s parent company in 2012 and later brought under Microsoft’s umbrella. In 2022, Tango Gameworks surprise-launched Hi-Fi Rush to wide acclaim. Krafton intends to collaborate with Xbox and ZeniMax to ensure a smooth transition and maintain continuity at Tango Gameworks.
This will allow the talented team to continue developing the Hi-Fi Rush IP and explore future projects. The acquisition marks an exciting moment in Krafton’s global expansion and its first significant investment in the Japanese video game market. By acquiring Tango Gameworks, Krafton aims to support the team in its commitment to creating fresh and exhilarating experiences for fans.
Krafton’s intervention has provided a new lease on life for Tango Gameworks, offering fans the prospect of a bright future for Hi-Fi Rush and perhaps even more from the creative minds behind some of the industry’s notable titles. The strategic move not only strengthens Krafton’s portfolio but also demonstrates a commitment to nurturing and growing creative talent within the global gaming industry.
