In May, Microsoft announced the closure of several Bethesda-owned studios, including Tango Gameworks, to concentrate on its “priority games.” Although the Japanese developer confirmed its shutdown, it has now been acquired by South Korean publisher Krafton, which will keep the studio operational. On Monday, Krafton revealed that it has integrated Tango Gameworks into its organizational structure, marking a significant move into the Japanese gaming market. The acquisition includes the rights to Tango’s popular rhythm-based action title, Hi-Fi Rush.
Krafton Welcomes Tango Gameworks
Financial specifics of the acquisition remain undisclosed; however, Krafton indicated that it is collaborating with Xbox and ZeniMax, the parent company of Bethesda, to facilitate a smooth transition. The publisher also affirmed that Tango Gameworks will remain focused on developing the Hi-Fi Rush intellectual property, opening the door to potential sequels.
“Through this strategic partnership, KRAFTON plans to work closely with Xbox and ZeniMax to ensure a seamless transition while maintaining continuity at Tango Gameworks. This will empower the talented team to continue evolving the Hi-Fi Rush IP and to explore new projects,” the company stated in a press release. “KRAFTON aims to support the Tango Gameworks team in their commitment to innovation and delivering engaging experiences for players,” it added.
Krafton clarified that Tango’s established titles, including The Evil Within, The Evil Within 2, Ghostwire: Tokyo, and Hi-Fi Rush, will not be affected by this new ownership arrangement.
This acquisition is Krafton’s first major foray into the Japanese video game sector. The company has expanded its presence globally by acquiring several game studios, including Neon Giant and Unknown Worlds Entertainment in recent years. In a statement about the acquisition, Krafton emphasized its commitment to growing its global reach and enhancing its portfolio with cutting-edge, high-quality content.
Tango Gameworks was founded in 2010 by renowned Capcom veteran Shinji Mikami and was acquired by ZeniMax Media in the same year. The studio became a part of Microsoft’s roster of gaming studios when the tech giant acquired ZeniMax in 2021.
Earlier this year, Microsoft disclosed plans to shut down various Bethesda-owned game studios, including Tango Gameworks and Arkane Austin, known for the game Redfall. This decision came despite the positive reception of Tango’s latest release, Hi-Fi Rush.
