Tango Gameworks and Its Hi-Fi Rush IP Have Just Been Acquired by PUBG’s KRAFTON

wccftech.com:

The closure of Tango Gameworks by Microsoft was arguably one of the most disappointing news gamers had to read in 2024. The studio released several successful games, such as the two The Evil Within titles, Ghostwire: Tokyo, and Hi-Fi Rush, the latter of which won several awards. However, Hi-Fi Rush wasn't as successful as Microsoft had hoped from a commercial standpoint, even after its release on PlayStation 5. Thus, the decision to divest.

Gamers thought it was over for the Tokyo-based developer originally founded by Resident Evil guru Shinji Mikami. Thankfully, that won't be the case: KRAFTON, once known as Bluehole Studio before the runaway success of PUBG, has just announced the acquisition of Tango Gameworks as well as the Hi-Fi Rush IP. The press release issued this morning also mentions that the existing development team will largely be kept in place. Hi-Fi Rush and The Evil Within 2 Director John Johanas already celebrated on Twitter/X.

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Here's the excerpt:

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. KRAFTON intends 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.

Sadly for horror fans, it doesn't sound like rights to The Evil Within and/or Ghostwire: Tokyo franchises are included in the deal, whose financial details remain undisclosed at this time. However, that doesn't mean KRAFTON can't reach an agreement with Microsoft later; it would certainly be preferable rather than abandoning these prized IPs to languish for all eternity.