Former Xbox studios Tango Gameworks and Hi-Fi Rush have been acquired by PUBG parent company Krafton Inc, saving it from closure

What you need to know

• A few months ago, Microsoft announced plans to close its Xbox studio Tango Gameworks, the only team based in Japan, as part of a round of cost-cutting measures.
• Tango Gameworks is known for games like Ghostwire Tokyo and The Evil Within, as well as the recent hit Hi-Fi Rush.
• Krafton Inc. published the massive battle royale game PlayerUnknown’s Battlegrounds, and has been expanding into other regions and exploring new game franchises recently.
• Krafton Inc. today announced that it has acquired Tango Gameworks as well as the Hi-Fi Rush IP, saving the team from closure.
• Krafton Inc says it intends to support Tango in the “further development” of the Hi-Fi Rush IP.

Tango Gameworks will continue to operate, as Microsoft has reached an agreement with publisher Krafton to keep the studio. Krafton Inc., known for games like PlayerUnknown’s Battlegrounds, has acquired Tango Gameworks entirely from Xbox, along with the rights to the hit action game Hi-Fi Rush.

Microsoft announced it was closing Tango Gameworks earlier this year, as part of a round of layoffs that saw a number of other Xbox game studios shutter. Tango was best known for games like the aforementioned high-octane rhythm fighting game Hi-Fi Rush, as well as the survival horror franchise The Evil Within. Tango was originally founded in 2010 by Shinji Mikami of Resident Evil fame, with the studio moving to Microsoft as part of the ZeniMax acquisition.