Xbox's Tango Gameworks and the Hi-Fi Rush IP get acquired by Krafton, publisher behind PUBG

In a surprising development, the Japanese game development studio Tango Gameworks has been acquired by the South Korean giant Krafton. Tango was one of the studios Microsoft decided to shut down earlier this year as part of major closures and layoffs affecting its Xbox wing. Now, in a press release, Krafton has confirmed that it is moving forward in taking up the entire Tango Gameworks development team, plus its most recent award-winning IP.

"KRAFTON, Inc. today welcomed the talented people of Tango Gameworks to their team, marking an exciting moment in the company's global expansion and its first significant investment in the Japanese video game market," says the brief announcement sent to the press today. "This strategic move will include the rights to Tango Gameworks' acclaimed IP, Hi-Fi RUSH."

Hi-Fi Rush was the latest game Tango released under the exclusive Xbox brand after Microsoft' acquisition of the studio, alongside all other assets under ZeniMax, in 2021. The rhythm-based action title was praised by fans and critics alike, and went on to win awards for its animations and audio design. While originally available only on Xbox consoles and PC, the title went on to get PlayStation ports earlier this year.

Krafton went on to say that it is working with Microsoft to make sure that the move between the two publishers is a smooth one:

"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."

Moreover, the popular game developer's past catalog will remain a part of Microsoft's Xbox services. "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, and they will remain available everywhere they are available today," adds Krafton, meaning not even Xbox Game Pass subscribers will lose access to the hit titles.

Considering Krafton has specifically targeted Hi-Fi Rush as part of the acquisition, while leaving behind other IPs of Tango like The Evil Within and Ghostwire: Tokyo, it may mean the publisher has plans to make the rhythm title a franchise in the future.