Tango Gameworks saved from closure by Krafton acquisition

Tango Gameworks, the award-winning developer of Hi-Fi RUSH, has been saved after its sudden closure by Microsoft earlier this year as part of “reprioritisation” efforts. South Korean publisher Krafton, known for publishing PUBG: Battlegrounds, has confirmed that it has acquired Tango Gameworks with the intention of continuing the development of the Hi-Fi RUSH IP as well as exploring new projects.

“KRAFTON, Inc. today welcomed the talented people of Tango Gameworks to their team, marking a exciting moment in the company’s global expansion and its first significant investment in the Japanese video game market“, announced Krafton in a post on its website. “This strategic move will include the rights to Tango Gameworks’ acclaimed IP, Hi-Fi RUSH.”

The announcement in May of this year that Microsoft would be shutting down Arkane Austin, Tango Gameworks and Alpha Dog Games came as a shock to many. Tango Gameworks’ closure was a particular surprise, considering its surprise release of 2023, Hi-Fi RUSH, was incredibly popular and well-received. The game won accolades such as a Best Animation BAFTA, Best Audio Design at the 2023 Game Awards and Game Developers’ Choice award for Best Audio. The decision to shut down Tango Gameworks was ostensibly part of Microsoft’s pivot towards “investing in Bethesda’s portfolio of blockbuster games“, and thus doubling down on developers and games with more recurring revenue opportunities.

Fortunately, Krafton saw an opportunity to save a talented company and promising IP. The developer’s new owner has confirmed that it will allow “the talented team to continue developing the Hi-Fi RUSH IP and explore future projects“. As such, we can hopefully expect a sequel or similar high-quality single-player projects before long now that the studio has been saved from closure.