Krafton Acquires Tango Gameworks and Rights to Hi-Fi Rush IP
Microsoft shuttered Hi-Fi Rush developer Tango Gameworks, along with several other Bethesda studios, in May to shift focus to its “priority games.” Tango had confirmed the closure at the time, but the Japanese studio has now been acquired by Krafton and will remain open. The South Korean publisher announced Monday that it had integrated Tango Gameworks into its team, marking its “first significant investment in the Japanese video game market.” The deal also includes the intellectual property rights to Hi-Fi Rush, Tango’s acclaimed rhythm-based action game.
Tango Gameworks acquired by Krafton
Krafton didn’t provide financial details about the deal, but said it would work with Xbox and Bethesda parent company ZeniMax to ensure a smooth transfer of ownership. The PUBG: Battlegrounds publisher also confirmed it would allow Tango Gameworks to continue developing the Hi-Fi Rush IP, hinting at potential sequels.
“As part of this strategic agreement, KRAFTON plans 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 explore future projects,” the company said in a press release. “KRAFTON plans to support the Tango Gameworks team to continue its commitment to innovation and deliver fresh and exciting experiences for fans,” it added.
The publisher said Tango’s existing catalog of games including The Evil Within, The Evil Within 2, Ghostwire: Tokyo and Hi-Fi Rush will not be affected by the acquisition.
The deal represents Krafton’s first major investment in the Japanese video game market. The company owns several international game studios and has acquired developers such as Neon Giant and Unknown Worlds Entertainment in recent years. “This integration reinforces KRAFTON’s commitment to expanding its global footprint and enhancing its portfolio with innovative and high-quality content,” Krafton said of its latest acquisition.
Tango Gameworks was founded in 2010 by Capcom veteran Shinji Mikami and was acquired by ZeniMax Media that same year. The company joined Microsoft’s portfolio of game studios when the Xbox parent company acquired ZeniMax in 2021.
Earlier this year in May, Microsoft announced that it would be shuttering several Bethesda-owned game studios, including Tango Gameworks and Redfall creator Arkane Austin. Tango was shuttered despite the critical success of its latest game, Hi-Fi Rush.
