Krafton acquires Japanese video game maker Tango Gameworks

Krafton Inc. CI

Krafton Inc. acquired Japanese video game developer Tango Gameworks, securing popular video game intellectual property (IP) including rhythm-based action game “Hi-Fi RUSH,” the company said on Monday.

Tango Gameworks, which was founded in 2010 and acquired by Microsoft Corp. in 2021, is the developer of “Hi-Fi Rush,” as well as the horror game “The Evil Within” and the action-adventure game “Ghostwire: Tokyo.” “Hi-Fi Rush,” in particular, received significant acclaim in the global gaming market immediately upon its release on MS Xbox in 2023.

Following the sudden announcement of Tango Gameworks’ closure in May 2024, Krafton acquired the company and secured its popular IPs. With this acquisition, Krafton plans to retain Tango Gameworks’ development staff and start new projects, including the development of a “Hi-Fi Rush” sequel.

MS has also pledged to actively support Tango Gameworks developers in their careers at Krafton.

“This acquisition will be the first step in our entry into the Japanese market,” Krafton said, adding that it will continue its efforts to find high-potential developers.