Microsoft shuttered Hi-Fi Rush developer Tango Gameworks, along with several other Bethesda-owned studios, in May to focus on its “priority games.” Tango confirmed its closure at the time, but the Japanese studio was 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-action game.
Tango Gameworks acquired by Krafton
Krafton did not disclose any financial details about the deal, but said it would work with Xbox and Bethesda, ZeniMax’s parent company, to ensure a smooth transition of ownership. The PUBG: Battlegrounds publisher also confirmed it would allow Tango Gameworks to continue developing the Hi-Fi Rush IP, hinting at possible sequels.
“As part of this strategic agreement, KRAFTON intends to work with Xbox and ZeniMax to ensure a smooth transition and maintain continuity within Tango Gameworks, enabling the talented team to continue developing the Hi-Fi RUSH IP and exploring future projects,” the company said in a press release. “KRAFTON intends to support the Tango Gameworks team as they continue their commitment to innovation and delivering new and exciting experiences to fans,” it added.
The publisher said the acquisition will have no impact on Tango’s existing catalog of games, which include The Evil Within, The Evil Within 2, Ghostwire: Tokyo and Hi-Fi Rush.
The deal marks 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 reach and enriching its portfolio with innovative and high-quality content,” Krafton said of its latest acquisition.
Tango Gameworks was founded by Capcom veteran Shinji Mikami in 2010 and acquired by ZeniMax Media the same year. The company joined Microsoft’s portfolio of game studios when Xbox parent company acquired ZeniMax in 2021.
Earlier this year, in May, Microsoft announced the closure of several Bethesda-owned game studios, including Tango Gameworks and Redfall developer Arkane Austin. The axe fell on Tango despite the critical success of its latest game, Hi-Fi Rush.
