Huzzah! PUBG's publisher has saved Tango Gameworks and Hi-FI Rush - but The Evil Within and Ghostwire Tokyo are sticking with Microsoft

Krafton Inc, the South Korean games company best known for its work on PUBG and The Callisto Protocol – has acquired Tango Gameworks and the award winning Hi-Fi Rush IP from Microsoft ahead of the studio’s closure.

The announcement that Microsoft was closing Tango Gameworks, alongside Arkane Austin and Alpha Dog Games, hit the industry like a frieght train.

In a PR statement, Krafton describes this as its “first significant investment in the Japanese video game market”, though other video game IP from Tango including Ghostwire Tokyo and The Evil Within remain in Microsoft’s hands.