The South Korean gaming company announced Monday it had acquired the Tokyo game studio; however, it did not reveal any financial details.
According to Krafton, the transaction will add developers from Tango Gameworks to Krafton and grant rights to Hi-Fi RUSH, the studio's very popular rhythm action combat game.
Krafton said this acquisition underlined its commitment to the international expansion of its business operations and diversification of its portfolio with innovative and quality content.
Founded in 2010, Tango Gameworks stands behind several hit titles, including Hi-Fi RUSH* and survival horror series The Evil Within. Other action-adventure games developed by this studio are Ghostwire: Tokyo, with a rhythm-based action game called Hi-Fi Rush.
After being acquired by Microsoft as part of its Xbox Game Studios in 2021, Tango Gameworks was closed down this May. Previously, Tango had been part of Microsoft's development roster after Microsoft acquired ZeniMax Media for $7.5 billion, making Tango the first Japanese studio to fall under Microsoft Gaming's umbrella.
Meanwhile, Krafton India, the creator of BGMI, announced in May an expansion of its gaming incubator program (KIGI). In the first cohort, it selected two game developers. It was launched last October to nurture and support Indian talent in developing games with potential ideas into successful ones by providing mentorship, resources, and all other support needed.
It offers great financial support, in the range from $50,000 to $150,000, for a phase of early development. However, this may further be adjusted at a later stage if the needs of the project may warrant it. In exceptional cases, up to $250,000 may be awarded to a project.
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