Krafton CEO Explains the Decision to Buy Tango Gameworks

Despite being Xbox’s biggest and most charming exclusive released in 2023, the rhythm-based action game Hi-Fi Rush couldn’t save Tango Gameworks, with the studio being shut down earlier in 2024. Thankfully, the South Korean publisher Krafton stepped up, acquiring the company and keeping it from becoming just another piece of video game history. Now, the CEO is explaining this seemingly sudden decision in a new interview with Game Developer.

“We wanted to maintain their legacy,” says Kim. “Although they did not see major financial success with their games, we saw many creatives worth pursuing. That’s why we wanted to work with them.”

Krafton is best known for being the publisher of PUBG: Battlegrounds and The Callisto Protocol. It’s unclear how much the company spent to acquire Tango Gameworks, but it doesn’t seem that it’s a sore subject for the boss.

“We cannot really translate the volume into money. It’s more about the significance,” Krafton’s head explained. He also noted that the price was “not too expensive, or too cheap either.”

Tango’s Hi-Fi Rush was released in 2023 for PC and Xbox Series X/S. It was brought to PlayStation 5 in 2024. As of August 2023, the title had a staggering 3 million players between purchased copies and Game Pass Subscriptions.

“As part of this strategic agreement, Krafton intends to collaborate with Xbox and ZeniMax to ensure a smooth transition and maintain continuity at Tango Gameworks, allowing the talented team to continue developing the Hi-Fi Rush IP and explore future projects,” a press release reads.