Krafton Acquires Tango Gameworks and Hi-Fi Rush Franchise from Microsoft

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PUBG maker Krafton has acquired Race for high fidelity developer Tango Gameworks of Microsoft.

The move brought the Japanese studio back from the brink, with Microsoft having recently announced closure plan THE Ghostwire: Tokyo AND The evil inside developer.

Krafton said the deal marks its first significant investment in the Japanese video game market and includes the rights to the Hi-Fi Rush franchise.

“As part of this strategic agreement, Krafton intends to work 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 exploring future projects,” it is read in a press release.

“Krafton looks forward to supporting the Tango Gameworks team as they continue their commitment to innovation and delivering new and exciting experiences to fans. There will be no impact to the existing game catalog of The Evil Within, The Evil Within 2, Ghostwire: Tokyo, and the original Hi-Fi Rush game.”

Krafton is looking to expand its global presence and strengthen its portfolio with “innovative, high-quality content.”

The purchase of Tango, which was acquired by Microsoft as part of its ZeniMax Acquisition in 2021meets the requirements in this regard. Race for high fidelity quickly became one of the most notable titles on the Xbox Game Studios roster when it was released as an early preview in January 2023. The project was met with critical acclaim and has seemingly done its part for Microsoft, with Xbox bosses saying it “worked well” for the company.

Despite this apparent success, Microsoft chose to fire the studio along with other ZeniMax subsidiaries, including Arkane Austin and Alpha Dog Games. The announcement came months after the company 1,900 workers laid off throughout its video game division.

Tango and his employees have now found salvation in Krafton, which has just recorded record sales of £788.9 million ($1 billion) and operating profit of £369.2 million ($471.1 million) during the first half of the current fiscal year.

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