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Krafton Saves Hi-Fi Rush Studio Tango Gameworks In New Acquisition

After being shut down by Microsoft, Tango Gameworks has found a new parent company as Krafton Inc. acquired the studio and IPs

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Article Summary

  • Krafton Inc. acquires Tango Gameworks and its IPs after Microsoft's closure of the studio earlier this year.
  • Microsoft faced backlash for shutting down Tango Gameworks despite previous promises to support smaller studios.
  • Krafton plans to ensure a smooth transition and maintain continuity at Tango Gameworks with ongoing project support.
  • Tango Gameworks will continue developing Hi-Fi Rush and other titles under Krafton's dedicated and innovative vision.

After getting a not-so-subtle axe to the back from Microsoft earlier this year, Krafton Inc. has acquired Tango Gameworks as their latest purchase. As you may recall, in one of the many, many, many, many, many acts of villainy to spread across the gaming industry's relentless layoff spree, Microsoft announced it was closing the studio (among others) in a round of cuts and cost-saving measures. The studio was originally launched in 2010 and became one of ZeniMax's go-to studios, producing The Evil Within 1 & 2, Ghostwire: Tokyo, and their own highly-praised epic title, Hi-Fi Rush.

When the studio's closure was announced back in May, it was met with immediate backlash toward Microsoft, who had made several statements in the past about protecting smaller studios after their acquisition of ZeniMax in early 2021. Especially after all of the praise and flowers Hi-Fi Rush received for doing the very thing the company encouraged the smaller studios under their umbrella to do. The announcement of the acquisition was literally made this evening (early morning in South Korea) as part of their Q2 Earnings report, as they confirmed they now own the company outright with all of their IPs as well. They also put emphasis on the fact that they will be working with Microsoft to ensure a smooth transition of ownership. We have the brief statement below.

Bethesda Surprises Players With All-New Hi-Fi Rush Release
Credit: Bethesda Softworks

Tango Gameworks x Krafton Inc.

As part of this strategic agreement, Krafton intends to collaborate 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. Kraftonintends to support the Tango Gameworks team to continue its commitment to innovation and delivering fresh and exciting experiences for fans. There will be no impact on the existing game catalog of The Evil Within, The Evil Within 2, Ghostwire: Tokyo, and the original Hi-Fi RUSH game. This integration reinforces Krafton's dedication to expanding its global footprint and enhancing its portfolio with innovative and high-quality content. The addition of Tango Gameworks represents a strategic alignment with Krafton's mission to push the boundaries of interactive entertainment.

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Gavin SheehanAbout Gavin Sheehan

Gavin is the current Games Editor for Bleeding Cool. He has been a lifelong geek who can chat with you about comics, television, video games, and even pro wrestling. He can also teach you how to play Star Trek chess, be your Mercy on Overwatch, recommend random cool music, and goes rogue in D&D. He also enjoys hundreds of other geeky things that can't be covered in a single paragraph. Follow @TheGavinSheehan on Facebook, Twitter/X, Instagram, Bluesky, Threads, and Hive, for random pictures and musings.
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