Tango Gameworks has been acquired by Krafton, a move that keeps the studio alive.
Xbox announced in April that it would close four Bethesda studios – Tango, Redfall maker Arkane Austin, Mighty Doom developer Alpha Dog and support studio Roundhouse Games.
The studio appeared to close its doors in June, with developer Takeo Kido sharing photos on social media from what he said was the studio's final day.
However, South Korean publisher Krafton, which also owns PUBG Studios and The Callisto Protocol studio Striking Distance, has now announced the takeover of Tango Gameworks, apparently offering the prospect of a rescue for the company.
“Krafton Inc. today welcomed the talented employees of Tango Gameworks to its team. This is an exciting moment in the company's global expansion and its first significant investment in the Japanese video game market,” the publisher said in a statement.
“This strategic move includes the rights to Tango Gameworks' acclaimed intellectual property, Hi-Fi Rush.”
The publisher plans to work with Xbox and ZeniMax to “ensure a smooth transition and maintain continuity at Tango Gameworks,” saying it wants the team to continue working on the Hi-Fi Rush IP and other future projects.
“Krafton intends to support the Tango Gameworks team in continuing its commitment to innovation and delivering new and exciting experiences to fans,” it said.
Krafton says the move will not impact the studio's previous games, The Evil Within, The Evil Within 2, Ghostwire: Tokyo and Hi-Fi Rush, all of which will continue to be available on their existing platforms.