In May 2024, Microsoft announced the closure of four game studios, including Tango Gameworks. It has now come to light that Tango Gameworks will continue operations as the South Korean company KRAFTON has acquired it from Microsoft.
Hi-Fi RUSH
KRAFTON stated that this is its first major deal in Japan. However, they did not disclose the cost of acquiring Tango Gameworks.
Along with the studio, KRAFTON acquired the rights to Hi-Fi RUSH. As part of the South Korean company, Tango Gameworks will continue to develop this IP, and it will also work on new games. Apparently, the rights to other Tango Gameworks projects, including Ghostwire: Tokyo and The Evil Within duology, remain with Microsoft.
KRAFTON added that they are working with Microsoft and ZeniMax Media to ensure a smooth transition for the Tango Gameworks team to the new company.