Finally some good news! Krafton Inc, the South Korean games company best known for its work on PUBG and The Callisto Protocol – has acquired Tango Gameworks and the award winning Hi-Fi Rush IP from Microsoft ahead of the studio’s closure.
Tango Gameworks, which created the excellent Hi-Fi Rush in January 2023, will be leaping from one company to the other, taking all the staff who would otherwise have been laid off with it. In a PR statement, Krafton describes this as its “first significant investment in the Japanese video game market”, though other video game IP from Tango including Ghostwire Tokyo and The Evil Within remain in Microsoft’s hands.
This is quite a sudden and exciting bit of news in what has otherwise been a depressing spree of video game layoffs and studio closure stories. The announcement that Microsoft was closing Tango Gameworks, alongside Arkane Austin and Alpha Dog Games, hit the industry like a frieght train. While all three studios had obvious merit Tango had only recently won awards for Hi-Fi Rush – a relatively cheap game with a brand-new IP, something Microsoft seemingly would want in this current climate.
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