Krafton Takes Over Tango Gameworks and Hi-Fi Rush Intellectual Property from Xbox

In a significant move, Krafton, the publisher behind PUBG, has entered into a strategic partnership with Xbox to acquire Tango Gameworks and the rights to Hi-Fi Rush. The goal is to ensure a seamless transition, allowing the Tango team to continue working on the Hi-Fi Rush franchise and explore new projects. Tango Gameworks, founded by Shinji Mikami in 2010, is known for its work on The Evil Within series, Ghostwire Tokyo, and the critically acclaimed Hi-Fi Rush, launched in 2023. The studio was acquired by Xbox in 2021 as part of the $7.5 billion purchase of Zenimax, the parent company of Bethesda. Despite the success of Hi-Fi Rush, Microsoft announced the closure of Tango Gameworks in May, citing a focus on high-impact titles. This decision also affected other studios, including Arkane Austin, Alpha Dog, and Roundhouse Games. Krafton has assured that the acquisition will not affect the availability of Tango's previous games, which will remain accessible in their current form. In a statement, Krafton expressed its commitment to expanding its global presence and enhancing its portfolio with innovative content, highlighting the strategic importance of the Tango Gameworks acquisition. As a major South Korean publisher, Krafton is known for its successful titles such as PUBG: Battlegrounds, TERA, and The Callisto Protocol, with a portfolio that includes Bluehole, PUBG Studios, Striking Distance, and Neon Giant, among others. The terms of the transaction have not been disclosed, with the deal coming a month after the Tango Gameworks team marked its final day at the studio.