Krafton, a South Korean video game company, announced on Monday that it has purchased Tango Gameworks, a Tokyo-based game studio. According to the Yonhap news agency, Krafton announced that it will acquire the rights to its highly regarded rhythm-action combat game, Hi-Fi RUSH, as well as the developers of Tango Gameworks.
"This integration reinforces Krafton's dedication to expanding its global footprint and enhancing its portfolio with innovative and high-quality content," the business stated in a statement.
Established in 2010, Tango Gameworks created several popular games, such as the survival horror series The Evil Within and Hi-Fi Rush. The Japanese business was purchased by Microsoft, the parent firm of Xbox Game Studios, in 2021, however, it was closed down in May.
Tango also created the rhythm-based action game Hi-Fi Rush and the action-adventure game Ghostwire: Tokyo. After Microsoft paid $7.5 billion to acquire Tango's parent firm ZeniMax Media in March 2021, Tango became the first Japanese studio in Microsoft Gaming's development portfolio. Afterwards, Microsoft shut down the studio. Tango became the Xbox manufacturer's first Japanese development studio after the acquisition.
In the meantime, May saw the expansion of the first batch of the gaming incubation program (KIGI) by BGMI creator Krafton India. Two game creators were chosen by the firm for the inaugural cohort.
The gaming corporation started the program in October of last year with the intention of providing a special chance for gifted Indian game developers to get resources, assistance, and mentoring in order to turn their concepts into profitable gaming businesses.
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By providing substantial financial assistance to cover early development costs, the program frees up teams to concentrate on designing and improving their games. This funding is available in increments of $50,000 to $150,000, depending on the particular needs of the project. The corporation stated that exceptional teams might receive up to $250,000 in support.