KRAFTON Acquires Tango Gameworks and the Hi-Fi RUSH IP (August 2024)

KRAFTON Acquires a Japanese Game Development Studio!

KRAFTON Strengthens Its Global Presence by Acquiring Tango Gameworks and the Hi-Fi RUSH IP

KRAFTON Expands Its Global Presence with a Renowned Japanese Development Studio

KRAFTON, Inc. announced today that it is bringing the talented employees of Tango Gameworks onto its team, a milestone moment in the company's global expansion and its first major investment in the Japanese video game market. With this strategic move, KRAFTON has also acquired the rights to Tango Gameworks' acclaimed game Hi-Fi RUSH.

KRAFTON Acquires a World-Renowned Japanese Game Development Studio!

Founded in 2010, Tango Gameworks has proven itself as a game developer by making noteworthy titles such as the critically acclaimed rhythm-based action game Hi-Fi RUSH, the survival horror games The Evil Within and The Evil Within 2, and the action-adventure game Ghostwire: Tokyo. The studio became part of Xbox when ZeniMax was acquired by Xbox in 2021.

Tango Gameworks' flagship game, Hi-Fi RUSH, is a rhythm action fighting game that has won the admiration of players worldwide. The game received widespread praise on Steam with 'Overwhelmingly Positive' reviews. Hi-Fi RUSH was awarded prestigious honors, including 'Best Animation' at the BAFTA Games Awards, 'Best Audio Design' at The Game Awards and the Game Developers Choice award in the 'Best Audio' category.

As part of the strategic deal, KRAFTON plans to work with Xbox and ZeniMax both to ensure a smooth transition on the Tango Gameworks side and to ensure continuity, which will let the talented team keep developing the Hi-Fi RUSH IP and work on new projects. KRAFTON will support the Tango Gameworks team in continuing its innovative approach and offering gamers brand-new, exciting experiences. The Evil Within, The Evil Within 2, Ghostwire: Tokyo and the original Hi-Fi RUSH will remain in the studio's catalog.

This integration underscores KRAFTON's determination to expand globally and improve its portfolio with innovative, high-quality content. Tango Gameworks joining the team also parallels KRAFTON's mission to push the boundaries of interactive entertainment.

For more information, please visit www.krafton.com/en/ .

About KRAFTON, INC.

Headquartered in South Korea, KRAFTON, Inc. is dedicated to discovering and publishing games that spark curiosity by offering fun and original experiences. Founded in 2007, KRAFTON is home to world-renowned developers such as PUBG STUDIOS, Striking Distance Studios, Unknown Worlds, VECTOR NORTH, Neon Giant, KRAFTON Montréal Studio, Bluehole Studio, RisingWings, 5minlab, Dreamotion, ReLU Games and Flyway Games. Each studio constantly strives to overcome new challenges and take advantage of innovative technologies. Their goal is to reach more gamers by expanding KRAFTON's platforms and services.

KRAFTON is responsible for leading entertainment properties including PUBG: BATTLEGROUNDS, PUBG MOBILE, The Callisto Protocol, NEW STATE MOBILE, Moonbreaker, Defense Derby and TERA. With a 3,000-person team spread across nine countries, KRAFTON is a technology-focused company made up of first-class talent that aims to expand its business areas beyond games to multimedia entertainment and deep learning. For more information, you can visit www.krafton.com .

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