Krafton's Acquisition of Tango Gameworks: A New Chapter for Innovation

In a surprise move, South Korean publisher Krafton acquired Japanese developer Tango Gameworks, known for its innovative and creative approach to game development. This acquisition marks a significant investment in the Japanese video game market for Krafton, which already has a portfolio of successful studios, including PUBG Studios and Bluehole Studio. The acquisition of Tango Gameworks includes the highly acclaimed rhythm action game Hi-Fi Rush, which has gained a massive following with over three million players. Krafton's decision to acquire Tango Gameworks was driven by its commitment to fostering innovation and creativity in the gaming industry. The company believes that Tango's unique approach to game development aligns with its own mission to create new and exciting experiences for players. Krafton's Head of Corporate Development, Maria Park, explained that the company's strategic goal is to support the game development community by investing in innovative and creative studios. Park emphasized that Krafton is not looking to replicate successful games but instead wants to discover new and unique gameplay experiences. The company has already met with over 200 studios in the last quarter, demonstrating its commitment to finding and supporting talented developers. The acquisition of Tango Gameworks is seen as a significant opportunity for Krafton to expand its presence in the Japanese market. Park noted that the company is cautious in its approach but is committed to finding the right partners and investing in talented teams with a strong creative vision. The acquisition of Hi-Fi Rush is a key part of this strategy, and Krafton plans to continue developing the game and exploring new projects with the Tango team. In an interview, Park discussed the terms of the acquisition, which included the transfer of the Hi-Fi Rush IP from Microsoft. The company is still in discussions with Microsoft regarding the IP acquisition, but Park expressed confidence that the deal would be completed soon. Krafton has already onboarded most of the Tango team, and the studio is expected to continue working on Hi-Fi Rush 2 under Krafton's guidance. The future of Hi-Fi Rush is exciting, with plans to bring the game to new platforms and expand its reach to a wider audience. The Tango team is committed to delivering a high-quality sequel that surpasses the expectations of the game's existing fans. Krafton's expertise in multiplayer and service-type games will also help to bring Tango's games to larger markets and different platforms. The acquisition of Tango Gameworks is a significant milestone for Krafton, demonstrating the company's commitment to innovation and creativity in the gaming industry. With its talented team and unique approach to game development, Tango Gameworks is poised to continue creating exciting and innovative games under Krafton's guidance.