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Re:

KRAFTON Acquired Tango Gameworks’ Business and the Hi-Fi RUSH IP

KRAFTON took over Tango Gameworks’ business and acquired the Hi-Fi RUSH IP, while The Evil Within and Ghostwire: Tokyo remained outside the deal.
From TheFinanceBase Team2 min to read
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KRAFTON announced on August 12, 2024, that it had taken over Tango Gameworks’ business and acquired the Hi-Fi RUSH intellectual property, with Xbox and ZeniMax’s cooperation. The transaction’s reported effective date was August 1, 2024. It did not include Tango’s earlier franchises The Evil Within or Ghostwire: Tokyo.

What did KRAFTON acquire?

The announcement described a transfer of Tango Gameworks’ business and the acquisition of the Hi-Fi RUSH IP—not a purchase of every franchise the studio had worked on. KRAFTON said it planned to continue developing the Hi-Fi RUSH IP and pursue new projects. Its announcement also said the existing catalog, including The Evil Within, The Evil Within 2 and Ghostwire: Tokyo, would not be affected. KRAFTON’s announcement and KRAFTON-confirmed reporting distinguish the acquired property from Tango’s earlier titles.

KRAFTON said it would integrate Tango development staff and continue the studio’s work. A contemporaneous report citing KRAFTON investor information put the number of development staff at approximately 50; that figure is reported, not stated in the company’s announcement, and does not establish that every former employee transferred. Pure Xbox’s report on the investor information gives the reported effective date and staffing figure.

When did the acquisition happen?

The public announcement and reported effective date are different. KRAFTON announced the transaction on August 12, 2024; reporting based on its investor information says it became effective August 1, 2024. KRAFTON’s announcement recounts that Microsoft had announced Tango’s closure in May 2024, but does not specify when that closure was to take effect.

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#1 Best Overall
Riders Republic Xbox Series X|S, Xbox One Standard Edition
  • Battle against over 50 players simultaneously in a massive multiplayer playground—over 20 players on Xbox One.
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  • 2010: Tango Gameworks was founded, according to KRAFTON Japan.
  • 2021: Microsoft acquired the studio, according to the same announcement.
  • May 2024: Microsoft announced Tango’s closure.
  • August 1, 2024: Reported effective date of the KRAFTON transaction.
  • August 12, 2024: KRAFTON publicly announced the business transition and Hi-Fi RUSH IP acquisition.
  • November 14, 2025, 9:00 a.m. KST: The service-operations handover from Bethesda Softworks to KRAFTON began.
  • December 4, 2025, 11:00 a.m. KST: KRAFTON scheduled an in-game patch reflecting the operator change.

Who operates Hi-Fi RUSH now?

KRAFTON later took over Hi-Fi RUSH service operation from Bethesda Softworks. Its support notice says the transition began November 14, 2025, at 9:00 a.m. Korea Standard Time. The notice says the change would not affect gameplay, save data, progress, achievements or player information. KRAFTON’s current game page credits the title to KRAFTON and Tango Gameworks.

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Was a purchase price disclosed?

KRAFTON’s announcement does not disclose an acquisition price or other financial terms. No deal value can be established from the cited information.

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