Earlier this year, Microsoft shut down and closed multiple studios including Arkane Austin, Alpha Dog Studios, and Roundhouse Games. Tango Gameworks was also part of the studio closures, however, they will no longer be closed. Krafton and Microsoft have reached an agreement for Krafton to acquire The Evil Within and Ghostwire: Tokyo developer. In addition, Krafton is also acquiring the Hi-Fi Rush IP which will enable and allow Tango Gameworks to continue developing the Hi-Fi Rush IP and explore future projects.

Tango Gameworks taken over and “revived” by PUBG publisher Krafton, with plans to expand Hi-Fi Rush IP https://t.co/UMLOrMIGkahttps://t.co/g3zyvd3phl pic.twitter.com/kRFBYIIVXa

— Wario64 (@Wario64) August 12, 2024

Tango Gameworks was founded back in 2010 and developed the survival horror titles The Evil Within and its sequel The Evil Within 2. Afterward, they created the action-adventure game Ghostwire: Tokyo. Most recently, Tango developed the critically acclaimed Hi-Fi Rush.

Hi-Fi- Rush is a rhythm action game that captivated audiences worldwide achieving widespread acclaim, receiving ‘Overwhelmingly Positive’ reviews on Steam and garnered prestigious awards, including ‘Best Animation’ at the BAFTA Games Awards, ‘Best Audio Design’ at The Game Awards, and ‘Best Audio’ at the Game Developers’ Choice Awards.

Krafton said that they intend 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.”

A Microsoft spokesperson released a statement to Windows Central.

BREAKING: Tango Gameworks has been acquired by Krafton Inc. (PUBG), as well as Hi-Fi Rush!

DETAILS and statement from Microsoft: https://t.co/EaZSHK6HKk#Xbox #HiFiRush #PUBG #Krafton

— Jez (@JezCorden) August 12, 2024

“We’re working with Krafton to enable the team at Tango Gameworks to continue to build games together and we look forward to playing their next great game. There will be no impact to the existing catalog of Tango games.”