Korean games firm Krafton has bought both Tango Gameworks and the Hi-Fi Rush IP. 

In a post on its website, the firm announced that it had acquired the developer and the critically acclaimed Hi-Fi Rush for an undisclosed sum. This news comes hot on the heels of Microsoft announcing that it would be closing down Tango Gameworks earlier this year. Xbox studios chief Matt Booty said that this was in part due to the change in management with Shinji Mikami's departure. 

"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," the Korean firm wrote.  

"Krafton intends to support the Tango Gameworks team to continue its commitment to innovation and delivering fresh and exciting experiences for fans. There will be no impact on the existing game catalog of The Evil Within, The Evil Within 2, Ghostwire: Tokyo, and the original Hi-Fi Rush game.

"This integration reinforces Krafton's dedication to expanding its global footprint and enhancing its portfolio with innovative and high-quality content. The addition of Tango Gameworks represents a strategic alignment with Krafton's mission to push the boundaries of interactive entertainment."